Financial Markets Authority (Levies) Regulations 2012

Schedule 1 Application, savings, and transitional provisions relating to amendments made to these regulations after 1 January 2014

r 15

Schedule 1: inserted, on 1 April 2014, by regulation 8 of the Financial Markets Authority (Levies) Amendment Regulations 2014 (LI 2014/49).

Provisions relating to Financial Markets Authority (Levies) Amendment Regulations 2014

1 Interpretation
2 Transitional provision

(1)

These regulations, as amended by regulations 4 to 6 of the amendment regulations, apply in relation to accounting periods that commence on or after 1 April 2014.

(2)

These regulations, as in force before 1 April 2014, continue to apply in relation to accounting periods that commence before that date as if the amendment regulations had not been made.

Provisions relating to Financial Markets Authority (Levies) Amendment Regulations 2019

Schedule 1 heading: inserted, on 25 November 2019, by regulation 11 of the Financial Markets Authority (Levies) Amendment Regulations 2019 (LI 2019/254).

3 Sole adviser practice not required to pay levy on registration under FSP Act

(1)

This clause applies to a body corporate (A) if,—

(a)

on or before the relevant date, A makes an application; and

(b)

A is relying on regulation 6 of the Financial Service Providers (Exemptions) Regulations 2010 at the time that it makes the application (or, if the application is made after that regulation is revoked, A relied on that regulation immediately before its revocation).

(2)

Making the application is not a leviable event under class 1 (and, accordingly, a levy is not payable for that application).

(3)

In this clause,—

application means an application under section 15 of the FSP Act to be registered as a provider of a financial advice service

relevant date means the date that is 3 months after the date on which section 16 of the Financial Services Legislation Amendment Act 2019 comes into force.

Schedule 1 clause 3: inserted, on 25 November 2019, by regulation 11 of the Financial Markets Authority (Levies) Amendment Regulations 2019 (LI 2019/254).

Schedule 1 clause 3(1)(a): amended, on 1 July 2020, by regulation 11(1) of the Financial Markets Authority (Levies) Amendment Regulations 2020 (LI 2020/100).

Schedule 1 clause 3(3): replaced, on 1 July 2020, by regulation 11(2) of the Financial Markets Authority (Levies) Amendment Regulations 2020 (LI 2020/100).