BudgetU.K.
4(1)The Regulator must adopt an annual budget which has been approved by the FCA.U.K.
(2)The budget must be adopted—
(a)in the case of the Regulator's first financial year, as soon as reasonably practicable after it is established, and
(b)in the case of each subsequent financial year, before the start of the financial year.
(3)The Regulator may, with the approval of the FCA, vary the budget for a financial year at any time after its adoption.
(4)Before adopting or varying a budget, the Regulator must consult—
(a)the Treasury, and
(b)such other persons (if any) as the Regulator considers appropriate.
(5)The Regulator must publish each budget, and each variation of a budget, in the way it considers appropriate.
Commencement Information
I1Sch. 4 para. 4 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1