Paragraph 3
United Kingdom
The Board may not impose a levy for the purpose of financing expenditure of any description unless—
the expenditure in question has already been incurred by the Board; or
it appears to the Board that the expenditure will be incurred within twelve months of the imposition of the levy.
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(a)
Act continued for certain purposes (subject to modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9, 11, Sch. 1 Pt. I; S.I. 2001/3538, art. 1(2)
Notes on Schedule 3
Modifications
- C1
Power to amend Sch. 3 conferred by Insurance Companies Act 1982 (c. 50, SIF 67), s. 67(4)
Sch. 3: functions made exercisable by, or by employees of, such person as may be authorised in that behalf by the Treasury (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 63(e)