958 Levy
958 Levy
Companies Act 2006 | Legislation

(1)     For the purpose of meeting any part of the expenses of the Panel, the Secretary of State may by regulations provide for a levy to be payable to the Panel—

(a)     by specified persons or bodies, or persons or bodies of a specified description, or

(b)     on transactions, of a specified description, in securities on specified markets.

In this subsection “specified” means specified in the regulations.

(2)     The power to specify (or to specify descriptions of) persons or bodies must be exercised in such a way that the levy is payable only by persons or bodies that appear to the Secretary of State—

(a)     to be capable of being directly affected by the exercise of any of the functions of the Panel, or