Schedule 7: Special Measures Paragraph 3: Meaning of "financial management proposal" Effect
Paragraph 3 defines the meaning of financial management proposal for the purposes of the special measures regime.
	The financial management proposal is document that will include an estimate of the relevant expenses to be incurred by the Special Measures Manager and recovered from the Accountable Person(s).
	Paragraph 3(1) sets out provisions that need to be included within a financial management proposal. These are estimates of relevant expenses and a reasonable amount for contingency costs, what measures they relate to and any apportionment of expenses, with the rationale for this, between multiple Accountable Persons.
	Paragraph 3(2) defines "relevant expenses" in relation to a financial management proposal under the special measures regime.