Section 224ZA: Discharge of functions

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part XV: The Financial Services Compensation Scheme

In discharging its functions the scheme manager must have regard to—

the need to ensure efficiency and effectiveness in the discharge of those functions, and
the need to minimise public expenditure attributable to loans made or other financial assistance given to the scheme manager for the purposes of the scheme.

In subsection (1)(b) "financial assistance" includes the giving of guarantees and indemnities and any other kind of financial assistance (actual or contingent).

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.