Schedule 17A, Part 4, paragraph 36

The Bank of England may, in connection with the discharge of any of its qualifying functions, require recognised clearing houses, ... third country central counterparties, recognised CSDs ... or settlement internalisers (as defined in point (11) of Article 2(1) of the CSD regulation) to pay fees to the Bank. The “qualifying functions” of the Bank are— its functions under or as a result of this Part of this Act, ... its functions under or as a result of a qualifying provision that is specified, or of a description specified, for the purposes of this sub-paragraph by the Treasury by order; ... its functions under or as a result of regulations made under section 8 of the European Union (Withdrawal) Act 2018; and its functions under or as a result of Part 7 of the Companies Act 1989. The power of the Bank to set fees includes power to set fees for the purpose of meeting expenses incurred by it or the FCA— in preparation for the exercise of functions by the Bank under this Part of this Act, ... for the purpose of facilitating the exercise by the Bank of those functions or otherwise in connection with their exercise by it or in preparation for the exercise of functions by the Bank under Article 9(1) of the CSD regulation. It is irrelevant when the expenses were incurred (and, in particular, it is irrelevant if expenses were incurred by the FCA at a time when it was known as the Financial Services Authority). The power conferred by this paragraph may not be used to require a fee to be paid by any person whose application under section 309I for approval under section 309G has been granted.

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Source: legislation.gov.uk · retrieved 2026-09-04