PART 9A

Rules and Guidance
CHAPTER 1

Rule-making powers

Specific rule-making powers

Rules to recover debt advice expenses incurred by the devolved authorities
137SB
1
The Treasury may, from time to time, notify the FCA of the amount of the expenses incurred, or expected to be incurred, by the devolved authorities in connection with the provision of information and advice on debt to members of the public in Scotland, Wales and Northern Ireland.
2
Where the Treasury have notified the FCA of an amount of expenses under subsection (1), the FCA must make rules for imposing levies with a view to recovering—
a
the amount notified, and
b
expenses incurred by the FCA in connection with its functions under this section.
3
The rules must require the payment to the FCA of specified sums, or sums calculated in a specified way, by—
a
authorised persons, electronic money issuers or payment service providers, or
b
any specified class of authorised person, electronic money issuer or payment service provider.
4
Before the FCA publishes a draft of rules to be made under this section it must consult the Treasury.
5
The rules may be made only with the consent of the Treasury.
6
The Treasury may notify the FCA of matters that will be taken into account when deciding whether or not to give consent under subsection (5).
7
The FCA must have regard to any matters notified under subsection (6) before publishing a draft of rules to be made under this section.
8
The FCA must pay the Treasury the sums it receives under rules made under this section, apart from those paid to recover the expenses mentioned in subsection (2)(b) (which the FCA may keep).
9
Subsection (10) applies where—
a
the Treasury have notified the FCA under subsection (1) of an amount which included expenses expected to be incurred,
b
the FCA has made rules to recover the amount, and paid sums received under the rules to the Treasury, but
c
the expenses expected to be incurred were not in fact incurred.
10
The Treasury need not arrange for the sums received under the rules to be paid back, but must, when next notifying an amount to the FCA under subsection (1), take into account the fact that the sums received included an amount representing expenses that were not in fact incurred.
11
In this section—
- the “
devolved authorities
” means—
  1. the Scottish Ministers,
  2. the Welsh Ministers, and
  3. the Department for Communities in Northern Ireland;
- “
electronic money issuer
” and “
payment service provider
” have the same meanings as in section 137SA.
Pt. 9A applied (1.7.2021) by Regulation (EU) No. 600/2014, Art. 49A(12) (as inserted by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 10 para. 9; S.I. 2021/739, reg. 3(o))
Pt. 9A applied (31.12.2020) by The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407), regs. 1(2), 4, Sch. 3 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 27(a) and S.I. 2020/1385, regs. 1(2), 54(2))
S. 137SB inserted (1.10.2018) by Financial Guidance and Claims Act 2018 (c. 10), ss. 14(1), 37(5); S.I. 2018/1003, reg. 2(a)
Pt. 9A applied (with modifications) (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 74 (as amended by S.I. 2020/1385, regs. 1(4), 52(7)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 9A applied (with modifications) (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 35 (as amended by S.I. 2020/1385, regs. 1(4), 56(7)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 9A substituted for ss. 138-164 (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 24(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.