123M. Annual fees payable by exempt benchmark administrator
Feedback & supportLast amended by an amending law of 2022. 2 amendments in all.
Every exempt benchmark administrator must pay to the Authority such annual fee as may be prescribed by regulations made under section 123ZZA, in such manner as the Authority may specify.
exempt benchmark administrator
“exempt benchmark administrator” means a person who is exempted under section 123K(1) from the requirement to be an authorised benchmark administrator;
Subject to subsection (3), the Authority may, where it considers appropriate, refund or remit the whole or part of any annual fee paid to it.
The Authority need not refund any annual fee paid if —
the exemption is revoked during the period in which the annual fee relates;
the exempt benchmark administrator ceases to carry on a business of administering a designated benchmark during the period to which the annual fee relates; or
a section 123ZZC prohibition order or an FSMA prohibition order has been made against the exempt benchmark administrator.
Where an exempt benchmark administrator fails to pay the annual fee by the date on which such fee is due, the Authority may impose a late payment fee of an amount prescribed by regulations made under section 123ZZA for every day or part of a day that the payment is late and both fees are recoverable by the Authority as a judgment debt.