Related provisions for FEES 6.3.18
1 - 7 of 7 items.
(1) Where8 the FSCS makes recoveries in relation to protected claims where a8 related compensation costs levy8 would have been allocated to a class (class A) had the levy limit for class A not been reached and has been allocated to another class or classes in the retail pool, the recoveries must be applied:8888(a) 8first, to the classes to which the costs levied were allocated in accordance with FEES 6.5A in the same proportion as those classes contributed, up to the total amount
(1) 4This rule applies to the calculation of the levies of a firm (A) if:(a) either:(i) A acquires all or a part of the business of another firm (B), whether by merger, acquisition of goodwill or otherwise; or(ii) A became authorised as a result of B's simple change of legal status (as defined in FEES 3 Annex 1 Part 6); (b) B is no longer liable to pay a levy; and(c) that acquisition or change takes place after the date to which, or as of which, A's most recent statement of business
Section 213(3)(b) of the Act requires the appropriate regulator to make rules to enable the FSCS to impose levies on authorised persons in order to meet its expenses. These expenses include in particular expenses incurred, or expected to be incurred, in paying compensation, borrowing or insuring risks.
Section 224F of the Act enables the appropriate regulator to make rules to enable the FSCS to impose levies on authorised persons (or any class of authorised persons) in order to meet its management expenses incurred if, under Part 15A of the Act, it is required by HM Treasury to act in relation to relevant schemes. But those rules must provide that the FSCS can impose a levy only if the FSCS has tried its best to obtain reimbursement of those expenses from the manager of the
The9 provisions on the allocation of levies to classes9 up to their levy limits2 meet9 a requirement of section 213(5) of the Act that the appropriate regulator , in making rules to enable the FSCS to impose levies, must take account of the desirability of ensuring that the amount of the levies imposed on a particular class of authorised person reflects, so far as practicable, the amount of claims made, or likely to be made, in respect of that class of person.22229999
Since a firm that becomes a participant firm in the course of a financial year of the compensation scheme will already be obtaining a discount in relation to the base costs levy through the modified fee provisions of FEES 4.2.6 R, no rule is necessary in FEES 69 for discounts on the base costs levy.119
(1) 22This rule deals with the calculation of:(a) a participant firm'sspecific costs levy in the financial year of the FSCS following the FSCS financial year in which it became a participant firm; or(b) a participant firm'sspecific costs levy in the financial year of the FSCS in which it had its permission extended, and the following FSCS financial year; and(c) the tariff base for the classes3 that relate to the relevant permissions or extensions, as the case may be.3(2) Unless
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year4 of the compensation scheme:4(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
(1) FEES applies to all persons required to pay a fee or levy under a provision of the Handbook. The purpose of this chapter is to set out to whom the rules and guidance in FEES apply. 30(2) FEES 2 (General Provisions) contains general provisions which may apply to any type of fee payer.30(3) FEES 3 (Application, Notification and Vetting Fees) covers one-off fees payable on a particular event for example:3330(a) 33various application fees (including those in relation to authorisation,