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Section 24 Bank’s administrative costsI1I2

England and Wales

(1)

A direct deduction order may include provision for the bank to deduct from the liable person’s account an amount specified in, or calculated in accordance with, the order, for the purposes of meeting costs reasonably incurred by the bank in complying with the order.

(2)

A bank may deduct the costs to which they are entitled under a direct deduction order immediately prior to making the deduction which is to be paid to the Minister under the order.

(3)

In complying with section 22(1) and (3) in relation to a direct deduction order the Minister must take account of any deductions to be made under the order by virtue of provision under subsection (1).

Annotations

Commencement

I1

S. 24 not in force at Royal Assent, see s. 109(1)

I2

S. 24 in force at 1.4.2026 by S.I. 2026/371, reg. 2(a)