Application provision

1.1 This Part applies to the FSCS.

3.1

03/07/2015

The FSCS must calculate a share of a base costs levy for a firm, a dormant account fund operator and, where applicable, the Society by:

  1. (1) identifying the base costs which the FSCS has incurred, or expects to incur, in the relevant financial year of the compensation scheme but has not yet levied and allocating 50% of those base costs as the sum to be levied on participants in PRA classes;

  2. (2) calculating the amount of the regulatory costs of the firm or dormant fund operator (or, where applicable, the Society) as a proportion of the total regulatory costs of all participant firms (and, where applicable, the Society) for the relevant financial year; and

  3. (3) applying the proportion calculated in (2), if any to the sum in (1).