-
(1) (except in INSPRU ) (in accordance with section 223 of the Act (Management expenses)) expenses incurred or expected to be incurred by the FSCS in connection with its function under the Act, other than compensation costs and costs incurred under Part 15A of the Act; for the purposes of FEES 6 these are subdivided into base costs, specific costs and establishment costs.(2) (in INSPRU ) in relation to long-term insurance business, means all expenses, other than commission, incurred in the administration of an insurer or its business.
-
a levy imposed by the FSCS on participant firms to meet the management expenses and which is made up of one or more of a base cost levy and a specific costs levy, each participant firm's share being calculated in accordance with FEES 6.4 .
-
(in relation to a UK recognised body) accounts showing the actual and budgeted income and expenditure of that body over any period.
-
means a company as defined in article 1a(2) of Council Directive 85/611/EEC of 20 December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS).