Regulation 17 Charges by a payments distributorI1
Scotland
In the exercise of a function under the Act or these Regulations, a payments distributor—
must make no charge of any kind to a debtor for payments distribution; F1...
in the case of a debt payment programme for an individual, must charge an administration fee to a creditor taking part in a debt payment programme in accordance with paragraph (2); and
in the case of a debt payment programme for a legal person, trust or unincorporated body of persons, may charge an administration fee to a creditor taking part in a debt payment programme in accordance with paragraph (3).
In the case of a debt payment programme for an individual, the administration fee, including any VAT incurred, is 20% of the sum due to be paid to a creditor in a distribution by the distributor.
In the case of a debt payment programme for a legal person, trust or unincorporated body of persons, the administration fee, including any VAT incurred, must be no more than 8% of the sum due to be paid to a creditor in a distribution by the distributor.
Annotations
Textual amendments
- F1
Word in reg. 17(1)(a) omitted (4.11.2019) by virtue of The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(6)(a)(i) (with reg. 13)
- F2
Reg. 17(1)(b)(c) substituted for reg. 17(1)(b) (4.11.2019) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(6)(a)(ii) (with reg. 13)
- F3
Reg. 17(2)(3) substituted for reg. 17(2) (4.11.2019) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(6)(b) (with reg. 13)