[F1224ZADischarge of functionsU.K.
This section has no associated Explanatory Notes
(1)In discharging its functions the scheme manager must have regard to—
(a)the need to ensure efficiency and effectiveness in the discharge of those functions, and
(b)the need to minimise public expenditure attributable to loans made or other financial assistance given to the scheme manager for the purposes of the scheme.
(2)In subsection (1)(b) “financial assistance” includes the giving of guarantees and indemnities and any other kind of financial assistance (actual or contingent).]
Textual Amendments
F1S. 224ZA inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 14, 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1