SCHEDULES
SCHEDULE 4The Payment Systems Regulator
Budget
I14
1
The Regulator must adopt an annual budget which has been approved by the FCA.
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.