The Banking Act 2009 (Fees) Regulations 2018

• Citation: S.I. 2018/734
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Banking Act 2009 (Fees) Regulations 2018 and come into force on 10th July 2018.

Section 2 Scale of fees

(1) The Treasury approve the following scale of fees payable to the Bank of England by an operator of a recognised payment system, and by a specified service provider in relation to such a system—

(a) a fee for the supervision of a recognised payment system or service provider (“supervision fee”);

(b) an additional fee (“special projects fee”) but only if the Bank of England considers that events require further supervision of a recognised payment system or service provider.

(2) In respect of a recognised payment system or specified service provider, the supervision fee must not in any one year exceed £760,000.

(3) In respect of a recognised payment system or specified service provider, the special projects fee must not in any one year exceed £500,000.

(4) In any one year, the fees charged by the Bank of England must not exceed the total costs incurred by the Bank arising out of its supervision of recognised payment systems and specified service providers.