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This is the original version (as it was originally enacted).
(1)Before making, amending or replacing levy rules the IFR must consult—
(a)the Secretary of State,
(b)the Treasury,
(c)all regulated clubs, and
(d)such other persons as the IFR considers appropriate.
(2)Subsection (1) does not apply in relation to amendments to or replacements of levy rules if the IFR considers the changes to be minor.
(3)The consultation must include a draft of the proposed levy rules.
(4)As soon as reasonably practicable before the start of a chargeable period (“period A”) the IFR must publish—
(a)an estimate of the costs which it expects to incur in exercising its functions under this Act during period A;
(b)the actual costs of exercising those functions during the chargeable period immediately before period A (unless period A is the first chargeable period);
(c)the amount of financial reserves which it considers it appropriate to raise in period A (if any);
(d)the amount to be recovered in period A in respect of the IFR’s initial costs and the Secretary of State’s establishment costs (if any);
(e)the amount of the IFR’s initial costs and the Secretary of State’s establishment costs that it has not recovered before the start of period A (if any);
(f)the amount payable by each licensed club in respect of period A;
(g)such information as it considers appropriate to explain how those costs and amounts are determined.
(5)Where the IFR by notice specifies a day for the purposes of section 53(11) the IFR must, as soon as reasonably practicable after specifying the day, publish that notice.
(6)In this section “the IFR’s initial costs” and “the Secretary of State’s establishment costs” have the same meanings as in section 53.
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