72Retention of fee related income
This section has no associated Explanatory Notes
(1)The OfS must pay its fee income to the Secretary of State except to the extent that the Secretary of State, with the consent of the Treasury, directs otherwise.
(2)“Fee income” means the sums received by the OfS by way of—
(a)fees charged under section 70 (registration fees) or 71 (other fees), or
(b)costs recovered by virtue of regulations made under section 70(2)(f) or 71(2)(g).
(3)The OfS must pay its other fee related income to the Secretary of State.
(4)“Other fee related income” means the sums received by the OfS by way of—
(a)penalties imposed by virtue of regulations made under section 70(2)(g) or 71(2)(h), or
(b)interest charged by virtue of regulations made under section 70(2)(i) or 71(2)(j).