SCHEDULESF2

C2C3SCHEDULE 17 The Ombudsman Scheme

Annotations:
Modifications etc. (not altering text)
C2

Sch. 17 applied (1.5.2009 for certain purposes and 1.11.2009 otherwise) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2), 125 (with reg. 3)

Part II The Scheme Operator

Budget

9

1

The scheme operator must, before the start of each of its financial years, adopt an annual budget which has been approved by the Authority.

2

The scheme operator may, with the approval of the Authority, vary the budget for a financial year at any time after its adoption.

C13

The annual budget must include an indication of—

a

the distribution of resources deployed in the operation of the scheme, and

b

the amounts of income of the scheme operator arising or expected to arise from the operation of the scheme,

distinguishing between the scheme’s compulsory F1, consumer credit and voluntary jurisdiction.