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 3Reviews

Reviews of economy etc of the consumer financial education body

15

1

The Authority may appoint an independent person to conduct a review of the economy, efficiency and effectiveness with which the consumer financial education body has used its resources in discharging the consumer financial education function.

2

The Authority must consult the Treasury before acting under this paragraph.

3

A review is not to be concerned with the merits of the body's general policy or principles in discharging the consumer financial education function.

4

On completion of a review, the person conducting it must make a written report to the Authority—

a

setting out the result of the review; and

b

making such recommendations (if any) as the person considers appropriate.

5

The Authority must publish a copy of the report in the way it considers appropriate.

6

Any expenses reasonably incurred in the conduct of the review are to be met by the Authority.

7

“Independent” means appearing to the Authority to be independent of the consumer financial education body.