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Application provision

3.1 This Chapter applies only to the FSCS.



This Chapter applies only to the FSCS.



The FSCS must pay compensation in accordance with this Part in respect of an eligible deposit if it is satisfied that the eligible deposit is a deposit with either:

  1. (1) a DGS member which is in default; or
  2. (2) a firm which is in default and which:
    1. (a) had a Part 4A permission to accept such deposits at the time the deposit was accepted but no longer has permission to accept eligible deposits, or is subject to a requirement preventing it from doing so; and
    2. (b) is not a member of a non-UK scheme which covers such deposits.