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Financial Services and Markets Act 2000

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136 Funding of the legal assistance scheme.E+W+S+N.I.

This section has no associated Explanatory Notes

(1)The [F1FCA] must pay to the Lord Chancellor such sums at such times as he may, from time to time, determine in respect of the anticipated or actual cost of legal assistance provided in connection with proceedings before the Tribunal under the legal assistance scheme.

(2)In order to enable it to pay any sum which it is obliged to pay under subsection (1), the [F1FCA] must make rules requiring the payment to it by authorised persons or any class of authorised person of specified amounts or amounts calculated in a specified way.

(3)Sums received by the Lord Chancellor under subsection (1) must be paid into the Consolidated Fund.

(4)The Lord Chancellor must, out of money provided by Parliament fund the cost of legal assistance provided in connection with proceedings before the Tribunal under the legal assistance scheme.

(5)Subsection (6) applies if, as respects a period determined by the Lord Chancellor, the amount paid to him under subsection (1) as respects that period exceeds the amount he has expended in that period under subsection (4).

(6)The Lord Chancellor must—

(a)repay, out of money provided by Parliament, the excess to the [F2FCA]; or

(b)take the excess into account on the next occasion on which he makes a determination under subsection (1).

(7)The [F3FCA] must make provision for any sum repaid to it under subsection (6)(a)—

(a)to be distributed among—

(i)the authorised persons on whom a levy was imposed in the period in question as a result of rules made under subsection (2); or

(ii)such of those persons as it may determine;

(b)to be applied in order to reduce any amounts which those persons, or such of them as it may determine, are or will be liable to pay to the [F3FCA], whether under rules made under subsection (2) or otherwise; or

(c)to be partly so distributed and partly so applied.

(8)If the [F4FCA] considers that it is not practicable to deal with any part of a sum repaid to it under subsection (6)(a) in accordance with provision made by it as a result of subsection (7), it may, with the consent the Lord Chancellor, apply or dispose of that part of that sum in such manner as it considers appropriate.

(9)Specified” means specified in the rules.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F1Word in s. 136(1)(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 23(5), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F2Word in s. 136(6)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 23(5), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F3Word in s. 136(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 23(5), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F4Word in s. 136(8) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 23(5), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1S. 136 wholly in force at 3.9.2001; s. 136 not in force at Royal Assent see s. 431(2); s. 136 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; s. 136 in force in so far as not already in force at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2

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