[(1) The Treasury may by regulations—
(a) enable the Treasury from time to time by direction to require the FCA, the PRA or the Bank of England (each a “regulator”) to require the payment of fees by relevant persons, or such class of relevant person as may be specified in, or determined by the regulator in accordance with, the direction, for the purpose of meeting relevant expenses incurred by the Treasury;
(b) make provision about how the regulator to which a direction is given is to comply with the direction;
(c) require the regulator to pay to the Treasury, by such time or times as may be specified in the direction, the amount of any fees received by the regulator.
(2) “Relevant expenses” are expenses (including any expenses of a capital natu
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