Consumer Protection Act 2007

24C.

F33 [ Surplus or deficiency in certain income of Agency during financial year.

24C . (1) If the total sum received by the Agency on account of levies prescribed under section 24B during a financial year is greater than the Agency s expenditure on the performance of its functions referred to in F36 [ section 10 (3)(j) of the Competition and Consumer Protection Act 2014 ] during that financial year, the Agency

( a ) shall apply the surplus to the performance of those functions and the exercise of those powers in the following financial year, and

( b ) shall reduce the levies prescribed in relation to the latter financial year accordingly.

(2) If the sum received by the Agency on account of levies prescribed under section 24B during a financial year is less than the Agency s expenditure on the performance of its functions referred to in F36 [ section 10 (3)(j) of the Competition and Consumer Protection Act 2014 ] during that financial year, the Agency may prescribe levies in relation to the following financial year sufficient to

( a ) make good the deficiency, and

( b ) ensure that the sum received by the Agency on account of such levies during the following financial year fully covers the performance of those functions during both those financial years. ]