Financial Services Act 1986 (Repealed)

112 Application fees. U.K.

(1)An applicant for a recognition order under Chapter III or IV of this Part of this Act shall pay such fees in respect of his application as may be required by a scheme made and published by the Secretary of State; and no application for such an order shall be regarded as duly made unless this subsection is complied with.

(2)A scheme made for the purposes of subsection (1) above shall specify the time when the fees are to be paid and may—

(a)provide for the determination of the fees in accordance with a specified scale or other specified factors;

(b)provide for the return or abatement of any fees where an application is refused or withdrawn; and

(c)make different provision for different cases.

(3)Any scheme made for the purposes of subsection (1) above shall come into operation on such date as is specified in the scheme (not being earlier than the day on which it is first published) and shall apply to applications made on or after the date on which it comes into operation.

(4)The power to make a scheme for the purposes of subsection (1) above includes power to vary or revoke a previous scheme made under those provisions.

(5)Every application under section 26, 77 or 88 above shall be accompanied by the prescribed fee and every notice given to the Secretary of State under section 32, 86(2) or 87(3) above shall be accompanied by such fee as may be prescribed; and no such application or notice shall be regarded as duly made or given unless this subsection is complied with.

Modifications etc. (not altering text)

C1Ss. 112, 113: certain functions transferred by S.I. 1988/738, art. 3(1)(2)(3)

C2S. 112(5) amended (6.1.1997) by S.I. 1996/2827, reg. 74(3)(a)