The Payment to Treasury of Penalties (Enforcement Costs) Order 2013
This Order relates to provisions of the Financial Services and Markets Act 2000 (c.8) (“FSMA 2000”) and the Financial Services Act 2012 (c.21) (“the 2012 Act”) which require the regulator of financial services (the Financial Services Authority for the period up to 31 March 2013 and, for the period after that date, the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England) to pay to the Treasury the amounts received by the regulator by way of penalties imposed under FSMA 2000 or (in the case of the Bank of England) under the Banking Act 2009 (c.1). The regulator must make the payment after deducting its enforcement costs.
Lifecycle
Department
Made
26 Feb 2013
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In force
01 Apr 2013
Enabling power
The Treasury, in exercise of the powers conferred by paragraph 20(4)(d) and (5)(e) of Schedule 1ZA to the Financial Services and Markets Act 2000, paragraph 28(4)(d) and (5)(c) of Schedule 1ZB to that Act and sections 109(4)(b), (6)(d), 110(4)(b), (c), (d) and 115(2) of the Financial Services Act 2012, make the following Order.
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