In this section "a fees direction" means a direction given by the Treasury as a result of regulations under section 410A.
Before giving a fees direction to the FCA, the PRA or the Bank of England (each a "regulator"), the Treasury must consult the regulator concerned.
A fees direction must—
be in writing;
except in the case of a direction that revokes a previous direction or a direction that varies a previous direction without affecting the total amount intended to be raised by the fees, specify the total amount intended to be raised by the fees to be charged by the regulator and explain how that amount is calculated;
contain such other information as may be prescribed.
As soon as practicable after giving a fees direction, the Treasury must lay before Parliament a copy of the direction.