The Press Standards Board of Finance (Pressbof) was set up by the Press Council to raise a levy on the newspaper and periodical industries to finance the Council, which had previously been funded directly by newspaper proprietors. Pressbof later funded the Press Complaints Commission. This arrangement was intended to ensure secure and independent financial support for effective self-regulation. Pressbof ceased to actively operate following the abolition of the Press Complaints Commission in 2014, and it was dissolved in August 2016.
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