FEES 2
General Provisions
FEES 2.1
Introduction
- 01/01/2006
Application
FEES 2.1.1-A
See Notes
- 03/07/2015
FEES 2.1.2
See Notes
- 01/04/2013
FEES 2.1.3
See Notes
- 01/04/2013
Purpose
FEES 2.1.4A
See Notes
- 03/07/2015
FEES 2.1.5-A
See Notes
- 03/07/2015
FEES 2.1.6
See Notes
The appropriate regulator fees payable will vary from one fee year to another, and will reflect the appropriate regulator's funding requirement for that period and the other key components, as described in FEES 2.1.7G. Periodic fees, which will normally be payable on an annual basis, will provide the majority of the funding required to enable the appropriate regulator to undertake its statutory functions.
- 01/04/2013
FEES 2.1.7A
See Notes
The key components of the PRA fee mechanism (excluding levies relating to the FSCS) are:
- (1) a funding requirement derived from:
- (a) the PRA's financial management and reporting framework;
- (b) the PRA's budget; and
- (c) adjustments for audited variances between budgeted and actual expenditure in the previous accounting year, and reserves movements (in accordance with the PRA's reserves policy);
- (2) mechanisms for applying penalties received during previous financial years for the benefit of fee payers;
- (3) fee-blocks, which are broad groupings of fee payers offering similar products and services and presenting broadly similar risks to the PRA's regulatory objectives;
- (4) a costing system to allocate an appropriate part of the funding requirement to each fee-block; and
- (5) tariff bases, which, when combined with fee tariffs, allow the calculation of fees.
- 03/07/2015
FEES 2.1.8
See Notes
- 01/04/2013
FEES 2.1.9
See Notes
- 01/04/2013
FEES 2.1.9A
See Notes
- 01/04/2013
FEES 2.2
Late Payments and Recovery of Unpaid Fees
- 01/01/2006
Late Payments
FEES 2.2.1A
See Notes
If a person does not pay the total amount of a periodic fee before the end of the date on which it is due, under the relevant provision in FEES 4, that person must pay an additional amount as follows:
- (1) if the fee was not paid in full before the end of the due date, an administrative fee of £250; plus
- (2) interest on any unpaid part of the fee at the rate of 5% per annum above the Official Bank Rate from time to time in force, accruing on a daily basis from the date on which the amount concerned became due.
- 03/07/2015
FEES 2.2.2
See Notes
- 04/10/2013
Recovery of Fees
FEES 2.2.3A
See Notes
- 03/07/2015
FEES 2.2.4A
See Notes
- 03/07/2015
FEES 2.3
Relieving Provisions
- 01/01/2006
Remission of Fees and levies
FEES 2.3.1A
See Notes
- 03/07/2015
FEES 2.3.2-A
See Notes
- 03/07/2015
FEES 2.3.2A
See Notes
- 01/04/2013
FEES 2.3.2C
See Notes
- 03/07/2015
FEES 2.4
VAT
- 01/04/2009