The Secretary of State may by regulations confer power on the regulator to charge fees in connection with—
The regulator is responsible for setting the level of fees in accordance with any provision made by the regulations.
Before determining the level of any fee the regulator must—
The regulations may authorise fees to be set at a level that exceeds the cost of the things in respect of which they are charged.
But the regulations must require the level of any fees to be set with a view to ensuring that, so far as possible, the regulator's fee income does not exceed its expenses (taking one year with another).
Regulations under this section may include provision about the collection and recovery of fees.
The regulations must require the regulator to pay any fee income to the Secretary of State unless the Secretary of State, with the consent of the Treasury, directs otherwise.