SCHEDULES

F1SCHEDULE 1AFurther provision about the consumer financial education body

Annotations:
Amendments (Textual)
F1

Sch. 1A inserted (8.4.2010 for certain purposes and 1.4.2011 otherwise) by Financial Services Act 2010 (c. 28), ss. 2(6), 26(1)(b)(k), Sch. 1 para. 1 (with Sch. 1 para. 2); S.I. 2010/2480, art. 3

Part 2Funding

Funding of the relevant costs by authorised persons F2, payment service providers or electronic money issuers

Annotations:
Amendments (Textual)
F2

Words in cross-heading preceding Sch. 1A para. 12 substituted (9.2.2011 for certain purposes, otherwise 30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(a)(xv)(b), 79, Sch. 4 para. 2(6)(a) (with art. 3)

12

1

For the purpose of meeting a proportion of the relevant costs the F6FCA may makes rules requiring—

a

authorised persons F3, electronic money issuers or payment service providers, or

b

any specified class of authorised person F4, electronic money issuer or payment service provider,

to pay to the F6FCA specified amounts or amounts calculated in a specified way.

2

Before making the rules the F6FCA must have regard to other anticipated sources of funding of the relevant costs.

3

The amounts to be paid under the rules may include a component to cover the expenses of the F6FCA in collecting the payments (“collection costs”).

4

The F6FCA must pay to the consumer financial education body the amounts that it receives under the rules apart from amounts in respect of its collection costs (which it may keep).

F54A

Electronic money issuer” means a person who is an electronic money issuer for the purposes of the Electronic Money Regulations 2011 as a result of falling within any of paragraphs (a) to (e) and (h) to (j) of the definition in regulation 2(1).

5

Payment service provider” means a person who is a payment service provider for the purposes of the Payment Services Regulations 2009 as a result of falling within any of paragraphs (a) to (f) of the definition in regulation 2(1).

6

Specified” means specified in the rules.