Part 1: Financial Guidance Etc Funding of the single financial guidance body Section 13: Levy under FSMA 2000 for expenses of single financial guidance body
Section 13 inserts a new section 137SA into the Financial Services and Markets Act 2000 which enables two processes. Firstly, it gives the Secretary of State the power to notify the Financial Conduct Authority of expenses incurred or expected to be incurred in connection with the single financial guidance body. Secondly, it provides that the Financial Conduct Authority must then make rules to impose levies to cover those expenses and its own expenses. Subsections (3) to (11) of new section 137SA impose various requirements on these processes, such as a requirement for the Financial Conduct Authority to consult the Secretary of State before it publishes drafts of the rules.
	Section 13(2) provides that things done by the Financial Conduct Authority before the Act is passed may satisfy the specified consultation requirements.
	Section 13(3) provides that the rules made under the new section 137SA can impose levies to recover expenses incurred by the Financial Conduct Authority before the day on which the Act is passed.