Part 1: Financial Guidance Etc Funding of debt advice in Scotland, Wales and Northern Ireland Section 14: Levy under FSMA 2000 for debt advice expenses of devolved authorities
Section 14 sets out similar provisions to section 13 in the context of a levy for debt advice expenses of devolved authorities. It inserts a new section 137SB into the Financial Services and Markets Act 2000. This allows the Financial Conduct Authority to make rules to recover expenses incurred or expected to be incurred by the devolved authorities in connection with debt advice from the Financial Service Levy.
	The new section 137SA enables two processes. Firstly it gives the Treasury the power to notify the Financial Conduct Authority of the relevant expenses of the devolved authorities. 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 (10) of the new section 137SB impose various requirements on these processes, such as a requirement for the Financial Conduct Authority to consult the Treasury before it publishes drafts of the rules.
	Section 14(2) provides that things done by the Financial Conduct Authority before this Act is passed may satisfy the specified consultation requirements.
	Section 14(3) provides that the rules made under the new section 137SB can impose levies to recover expenses incurred by the Financial Conduct Authority before the day on which this Act is passed.