Paragraph 8 Finances of OFCOM

F1(1)

It shall be the duty of OFCOM so to conduct their affairs as to secure that their revenues so far as they —

(a)

derive from the exercise of powers to impose charges or fees in respect of the carrying out of particular functions, and

(b)

do not fall to be paid into the Consolidated Fund of the United Kingdom or of Northern Ireland,

are at least sufficient to enable OFCOM to meet the costs of carrying out the functions to which the revenues relate.

(2)

Any excess of OFCOM’s revenues for any financial year over the sums required by them for that year for meeting their obligations and carrying out their functions shall be applied by OFCOM in such manner as the Secretary of State, after consultation with OFCOM, may direct.

(3)

A direction under sub-paragraph (2) may require the whole or any part of any such excess to be paid to the Secretary of State.

(4)

The Secretary of State shall pay any sums received by him under sub-paragraph (3) into the Consolidated Fund.

F2(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Sch. para. 8(1) substituted (29.12.2003) by Communications Act 2003 (c. 21), s. 411(2), Sch. 17 para. 172(3) (with Sch. 18); S.I. 2003/3142, art. 3(1), Sch. 1 (with art. 11)
F2: Sch. para. 8(5) repealed (29.12.2003) by Communications Act 2003 (c. 21), s. 411(2), Sch. 17 para. 172(2)(b), Sch. 19(1) (with Sch. 18); S.I. 2003/3142, art. 3(1), Sch. 1 (with art. 11)

Notes on Schedule

Modifications

C1: Sch. extended (Jersey) (with modifications) (29.12.2003) by Communications (Jersey) Order 2003 (S.I. 2003/3197), arts. 1(2), 5, Sch. 1
C2: Sch. extended (Isle of Man) (with modifications) (29.12.2003) by Communications (Isle of Man) Order 2003 (S.I. 2003/3198), arts. 1(2), 5, Sch. 1
C3: Sch. extended (Guernsey) (with modifications) (29.12.2003) by Communications (Bailiwick of Guernsey) Order 2003 (S.I. 2003/3195), arts. 1(2), 5, Sch. 1