4
Limits on Compensation Payable
4.1
This Chapter applies only to the FSCS.
- 03/07/2015
4.2
The maximum compensation sum payable for the aggregate eligible deposits of each depositor is £75,000, save that additional compensation may be payable in cases to which 4.3 applies.
[Note: Art. 6(1) of the DGSD]
[Note: Regulation 7A of the deposit guarantee scheme regulations provides for a transitional maximum compensation level of £85,000 until 31 December 2015 for depositors who were, or would have been, eligible for compensation before 3 July 2015 and are eligible for compensation on and after 3 July 2015.]
- 03/07/2015
4.3
The maximum compensation sum payable for a temporary high balance is £1,000,000, save that no limit shall apply to the compensation payable for a temporary high balance arising from a payment in connection with personal injury or incapacity.
[Note: Art. 6(2) of the DGSD]
- 03/07/2015