Schedule 1ZB, Part 3, paragraph 31(5)

For the purposes of sub-paragraph (3) it is irrelevant when the borrowing of the money, the incurring of the expenses or the assumption of functions took place (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).

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