Commentary on Sections Part 4: Financial Services Compensation Scheme Section 173: Borrowing from the National Loans Fund
389.This section inserts new section 223B into the Financial Services and Markets Act 2000.
390.The new section allows the Treasury to make loans from the National Loans Fund to the FSCS and to make regulations about the amount that can be borrowed and the collection of levies to secure its repayment. It also allows the FSA to make rules relating to borrowing from the National Loans Fund provided they are compatible with the regulations the Treasury has made.