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Application provision

3.1 This Chapter applies only to the FSCS.

3.1

03/07/2015

This Chapter applies only to the FSCS.

3.2

03/07/2015

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.