Regulation 5 FeesC1

(1)

The designating authority may charge a fee to an applicant for a designation order.

(2)

The designating authority may charge F1the system operator of a designated system a periodical fee.

(3)

Fees chargeable by the designating authority under this regulation shall not exceed an amount which reasonably represents the amount of costs incurred or likely to be incurred—

(a)

in the case of a fee charged to an applicant for a designation order, in determining whether the designation order should be made; and

(b)

in the case of a periodical fee, in satisfying itself that the designated F2system and its system operator continue to meet the requirements of the Schedule and F3are complying with any obligations to which F4they are subject by virtue of these Regulations.

Annotations

Textual amendments

F1: Words in reg. 5(2) inserted (6.4.2011) by The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2993), regs. 1, 2(4)(a) (with reg. 3)
F2: Words in reg. 5(3)(b) substituted (6.4.2011) by The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2993), regs. 1, 2(4)(b)(i) (with reg. 3)
F3: Words in reg. 5(3)(b) substituted (6.4.2011) by The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2993), regs. 1, 2(4)(b)(ii) (with reg. 3)
F4: Words in reg. 5(3)(b) substituted (6.4.2011) by The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2993), regs. 1, 2(4)(b)(iii) (with reg. 3)

Modifications

C1: Reg. 5 excluded (22.2.2019) by The Financial Markets and Insolvency (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/341), regs. 1(2), 16(3) (with reg. 21) (as amended (31.1.2020) by S.I. 2020/56, regs. 1, 13(c))