Commentary on Sections Miscellaneous Section 203: Fees
450.This section enables the Bank of England to require the operators of recognised inter-bank payment systems to pay fees (see subsection (1)) but only in accordance with a scale of fees set by the Treasury in regulations (see subsection (2)). Fees may be charged by the Bank of England to cover expenses incurred in undertaking its functions under this Part, for example, the cost of appointing an inspector under section 193. Subsection (4) specifies that the requirement to pay fees may be enforced by the Bank as a debt.
451.Subsection (4) allows the Bank of England to enforce a fee as a debt.