67 Scheme administration
Water Act 2014 (2014 c 21) | Legislation

67  Scheme administration

(1)     The Secretary of State may by regulations make provision in connection with the administration of the FR Scheme.

(2)     Regulations under subsection (1) may require the FR Scheme administrator to have regard to the following in discharging its functions—

(a)     the need to ensure economy, efficiency and effectiveness in the discharge of those functions,

(b)     the need to act in the public interest,

(c)     the need to ensure propriety and regularity in the operation of the FR Scheme, and

(d)     the need to manage, over the period of operation of the FR Scheme, the transition to risk-reflective pricing of flood insurance for household premises.

(3)     Regulations under subsection (1) may require the FR Scheme administrator to produce and publish, in accordance with the regulations, a plan for achieving the transition mentioned in subsection (2)(d).

(4)     Regulations under subsection (1) may require the FR Scheme administrator to provide the following information to relevant insurers who have issued insurance policies that are reinsured under the FR Scheme, so that those insurers may supply the information to holders of those policies—

(a)     information

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Novation—why and how to novate a contract

Novation—why and how to novate a contractThere may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the

LEXISNEXIS

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?In this Practice Note, references to the National Employment Savings Trust (NEST) Order are to the National Employment Savings Trust Order 2010, SI 2010/917 (NEST Order) applicable from 25 May

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan

LEXISNEXIS

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts, although it is perhaps doubtful whether there is any form of implied trust which is not in fact either a resulting trust or a