FEES 12 FOS ADR levy

This chapter applies to FOS Ltd.

FOS Ltd must pay the FOS ADR levy:

1. (1)

   in full and without deduction; and

2. (2)

   in accordance with this chapter.

1. (1)

   The FCA will raise the FOS ADR levy annually in arrears.

2. (2)

   The FCA will invoice FOS Ltd in April for the FOS ADR levy relating to the previous fee year.

3. (3)

   FOS Ltd must pay the FOS ADR levy within 30 days of the date of the invoice.

The FOS ADR levy is calculated as follows:

1. (1)

   Determine the number of hours, or part of an hour, taken by the FCA, in performing functions under the ADR Regulations.

2. (2)

   Using the table at FEES 3 Annex 9R(11), determine the relevant pay grades of those employed by the FCA to perform the functions under the ADR Regulations.

3. (3)

   Next, multiply the applicable rate in the table at FEES 3 Annex 9R(11) by the number of hours or part hours obtained under (1).

4. (4)

   Then add any fees and disbursements invoiced to the FCA by any person in respect of services performed by that person for the FCA to assist the FCA in performing its functions under the ADR Regulations.

5. (5)

   The resulting figure is the FOS ADR levy.

1. (1)

   All levies payable under FEES 12 are stated net of VAT.

2. (2)

   Where VAT is applicable, this must also be included.

If FOS Ltd does not pay the total amount of the FOS ADR levy before the end of the date on which it is due, it must pay:

1. (1)

   an administrative fee of £250; and

2. (2)

   interest on any unpaid part of the levy at an annual rate of 5% above the Official Bank Rate from time to time in force, accruing daily from the date on which the amount concerned became due.