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In force since 2025-01-24, as the publisher states.
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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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2024 No. 1344 BANKS AND BANKING The Banking Act 2009 (Wholesale Cash Oversight Fees) Regulations 2024 Made 16th December 2024 Laid before Parliament 17th December 2024 Coming into force 24th January 2025 The Treasury make these Regulations in exercise of the powers conferred by sections 206Z(2) and 259(1)(a) of the Banking Act 2009.
Propose a change(1) These Regulations may be cited as the Banking Act 2009 (Wholesale Cash Oversight Fees) Regulations 2024. (2) These Regulations come into force on 24th January 2025. (3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
Propose a change(1) The Treasury approve the following scale of fees payable to the Bank of England by a recognised person who is recognised as having market significance only (“R”)— (a) a fee for the supervision of R (“oversight fee”); (b) an additional fee (“special projects fee”) if the Bank of England considers that events require further supervision of R. (2) In any one year, the oversight fee for R must not exceed £400,000. (3) In any one year, the special projects fee for R must not exceed £150,000. (4) For any one year, the fees the Bank of England charges recognised persons who are recognised as having market significance only, taken together, must not exceed the total costs incurred by the Bank of England arising out of its supervision of such persons. (5) In paragraphs (2) to (4), “year” means a calendar year.
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