The Secretary of State1 is required to pay to the BBC2 out of money provided by Parliament sums equal to the whole of the net licence revenue3 or such lesser sums as the Secretary of State may, with the consent of the Treasury, determine4. The BBC may use sums so paid to it to fund any activities properly carried on by the BBC except: (1) those carried on for the purposes of any commercial activity5, any services performed at the request of a government department6, or any service (apart from the World Service7) aimed primarily at users outside the
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Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
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