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Application provision

23.1 This Chapter applies only to DAS members.

23.1

03/07/2015

This Chapter applies only to DAS members.

23.2

03/07/2015

A DAS member must provide the FSCS by end of February each year (or, if it has become a DAS member part way through the financial year, by the date requested by the PRA) with a statement of its class J tariff base calculation (measured in accordance with the class J tariff base) which it conducted, in respect of the most recent valuation period ending before the relevant year in relation to class J.

The relevant year means the year in which the month of February (referred to above) falls.

The valuation period will be 31 December.

23.3

03/07/2015

A new DAS member must calculate its class J tariff base in accordance with 21.7.

23.4

01/03/2016

If a DAS member does not submit a complete tariff statement by the date on which it is due in accordance with 23.2 and any prescribed submission procedures:

  1. (1) The DAS member must pay an administrative fee of £250 (but not if it is already subject to an administrative fee by the PRA for the same financial year); and
  2. (2) The DAS compensation costs levy and any DAS specific costs levy will be calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by a factor of 1.10 (or if it has become a DAS member part way through a financial year, on the basis of the information provided to the PRA for the purposes of Fees 3.6 (1) or on any other reasonable basis, making such adjustments as seem appropriate in subsequent levies once the true figures are known).