Part 3: Banking Section 18: Banking companies: expenses relating to compensation Details of the section Section 133C
New section 133C defines the disclosure condition for the purposes of new section 133A.
	Subsection (1) explains that the disclosure condition is met where a company has provided for, disclosed, or referred to the compensation expenses in question, or to a class of expenses to which the compensation expenses belong, within a relevant document, subject to certain conditions. These would include compensation expenses relating to issues such as the mis-selling of payment protection insurance.
	Subsection (2) provides that a disclosure which relates to payment of compensation to or for a single customer, in relation to a single error, will not meet the disclosure condition.
	Subsection (3) extends subsection (2) to associated companies.
	Subsection (4) provides that the indication in subsection (1) need not be explicit, providing that it is relatively clear.
	Subsection (5) defines "a relevant document", which includes "relevant accounts", defined at subsection (6), "a relevant statutory report", defined at subsection (7), or "a relevant listing disclosure", defined at subsection (8).
	Subsection (9) provides a time limit for disclosures within scope.
	Subsection (10) provides further definitions.