110 Payment to Treasury of penalties received by Bank of England
Financial Services Act 2012 (2012 c 21) | Legislation

110  Payment to Treasury of penalties received by Bank of England

(1)     The Bank of England (“the Bank”) must in respect of each of its financial years pay to the Treasury its penalty receipts after deducting its enforcement costs.

(2)     The Bank's “penalty receipts” in respect of a financial year are any amounts received by the Bank during the year by way of penalties imposed under any of the following provisions—

(a)     sections 192K[, 309U, 309Z2] and 312F of FSMA 2000, and

(b)     [sections 198 and 206T] of the Banking Act 2009.

(3)     The Bank's “enforcement costs” in respect of a financial year are the expenses incurred by it during the year in connection with—

(a)

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