Related provisions for FEES 9.2.9
1 - 2 of 2 items.
If a direct payment service provider2 does not pay the total amount of its PSR fees before the end of the date on which it is due, it must pay to the FCA2: (1) an administrative fee of £250; plus(2) interest on any unpaid part of the fee at an annual rate of 5% above the Official Bank Rate from time to time in force, accruing daily from the date on which the amount concerned became due.
(1) Paragraph 9 of Schedule 4 of FSBRA and the 2015 Interchange Regulations applying FSBRA in a modified form allow3 the FCA to make rules requiring participants2 in regulated payment systems to pay the FCA specified amounts or amounts calculated in a specified way to:(a) meet the relevant costs referred to in (2) below; and (b) enable the PSR to maintain adequate reserves.(1A) The specified amount or amounts calculated in a specific way in (1) are PSR fees which are levied for