Calculation of the net cost of the resolution
Other duties (1) — Crown / regulator
- Treasury must keep accounts of resolution costs and recoveries Crown / Minister / Government department
UK Statutory Instrument
2010
United Kingdom
The Financial Services and Markets Act 2000 (Contribution to Costs of Special Resolution Regime) Regulations 2010
At a glance
Enforced by
What's here
5 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Employer 1
Plus 4 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Employers also bound by 694 other Acts (top 5 shown)
- The Income Tax (Pay As You Earn) Regulations 2003 2003 236 duties
- Provision and Use of Work Equipment Regulations 1998 1998 120 duties
- TULRCA 1992 1992 72 duties
- Employment Rights (Northern Ireland) Order 1996 (current NI employment law) 1996 52 duties
- Income Tax (Earnings and Pensions) Act 2003 2003 50 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Calculation of the total cost of interim payments
Other duties (1) — Crown / regulator
- Treasury must keep an account of interim payments made by the scheme manager Crown / Minister / Government department
Specified information shall not be disclosed by the valuer (or...
Other duties (1) — Crown / regulator
- Valuer must not disclose specified information without consent Statutory regulator
(1) The prohibition in paragraph 13 of the disclosure of...
Other duties (1) — Crown / regulator
- Valuer must limit disclosure of sensitive information to what is necessary Statutory regulator
The valuer shall determine the remuneration and other conditions of...
- Valuer must determine pay and conditions of appointed staff Employer
Browse 37 other Schedules — structural / supplementary
At the time when the scheme manager—
In the notional account, the Treasury shall account for interest...
In the actual account, interest at the notified rate shall...
In paragraphs 11 and 12, where the final notification is...
The scheme manager's limit is the outstanding balance in the...
The account shall be dated from the time when the...
The Treasury shall add the interim payments to the account...
Interest at the notified rate shall accrue daily on the...
The total cost of interim payments is the total amount...
The accounts shall be dated from the time when the...
Calculation of balancing payments
If paragraph 20(a) applies, then the amount of the balancing...
If paragraph 20(b) applies then the amount of the balancing...
The Treasury shall add eligible expenses and recoveries to the...
Interest at the notified rate shall accrue daily on the...
When the Treasury are satisfied that all recoveries have been...
The net cost of resolution is the total amount in...
Calculation of the scheme manager's limit
The Treasury shall date the accounts as from the time...
At the time when— (a) the scheme manager would have...
The valuer
Records of a valuer in relation to his or her...
Application to the court for information
A person who provides information to the valuer for the...
In this Part, “specified information” means any information obtained by...
The Treasury may remove the valuer only on the ground...
In the event of the death of the valuer, or...
The valuer shall be— (a) paid such remuneration, and
The Treasury may appoint a person to verify the remuneration...
The valuer may appoint staff.
Any determination under paragraph 7 shall require the approval of...
Valuers (and their staff) are neither servants nor agents of...
Proceedings before Tribunal: general provision
This Schedule also applies in the case of a reference...
On receiving a reference described in paragraph 1—
On receiving a reference described in paragraph 1 or 2,...
An award of damages under paragraph 4(b) may only be...
Browse 18 other sections — procedural / definitional / commencement
Citation, commencement and revocation
Interpretation
Eligible expenses
Initial notification
Further notification
The scheme manager's expenditure
Calculation of the net cost of resolution
Calculation of the scheme manager's limit
Interim payment
Final notification (no interim payments)
Final notification (interim payments)
Independent verification
Appointment and determinations of the valuer
Reconsideration of the valuer's determinations
Other disputes that may be referred to the Tribunal
Proceedings before the Tribunal
Payments made under these Regulations to constitute payment of compensation under the scheme
Transitional provision for previous notifications
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
Prudential Regulation Authority
Part of the Bank of England. Prudentially regulates and supervises around 1,292 banks, building societies, credit unions, insurers, and major investment firms. …
Connected legislation
parent Act
These instruments amend, apply, or refer to this Act. They may not all create direct business obligations.
Made under
Financial Services and Markets Act 2000 2000 Primary Act
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