Bank (Recovery and Resolution) Administrative Levy Order 2024

Bank (Recovery and Resolution) Administrative Levy Order 2024 Article 1 c SD No. 2024/0124 Page 1 Statutory Document No. 2024/0124 Bank (Recovery and Resolution) Act 2020 c BANK (RECOVERY AND RESOLUTION) ADMINISTRATIVE LEVY ORDER 20241 Approved by Tynwald: 19 June 2024 Coming into Operation: 31 July 2024 The Isle of Man Financial Services Authority makes the following Order under section 12 of the Bank (Recovery and Resolution) Act 2020. 1 Title This Order is the Bank (Recovery and Resolution) Administrative Levy Order 2024. 2 Commencement If approved by Tynwald, this Order comes into operation on 31 July 20241 . 3 Application This Order applies to all banks whose licence under the Financial Services Act 2008 is in force on 31 March 2024. 4 Levy payable (1) Each bank must pay a levy to the Authority in respect of the administrative operations of the Authority for the year 1 April 2023 to 31 March 2024. (2) The amount of the levy payable by each bank is £9,464.56. (3) The levy must be paid to the account specified by the Authority. (4) The levy must be paid before 31 October 2024. 1 Tynwald procedure - affirmative

Article 5 Bank (Recovery and Resolution) Administrative Levy Order 2024
Page 2 SD No. 2024/0124 c
5 Revocation
The Bank (Recovery and Resolution) Administrative Levy Order 20222 and Bank (Recovery and Resolution) Administrative Levy Order 20233 are revoked. MADE 8 MAY 2024 2 SD 2022/0178 3 SD 2023/0163

Bank (Recovery and Resolution) Administrative Levy Order 2024 Endnotes c SD No. 2024/0124 Page 3 ENDNOTES
Table of Endnote References
1 The format of this legislation has been changed as provided for under section 75 of, and paragraph 2 of Schedule 1 to, the Legislation Act 2015. The changes have been approved by the Attorney General after consultation with the Clerk of Tynwald as required by section 76 of the Legislation Act 2015.