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Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) the FSCS;
  2. (2) UK banks;
  3. (3) credit unions;
  4. (4) Northern Ireland credit unions;
  5. (5) building societies; and
  6. (6) an overseas firm that:
    1. (a) is not an incoming firm; and
    2. (b) has a Part 4A permission that includes accepting deposits.

11.1

03/07/2015

A firm must mark eligible deposits in a way that allows for the immediate identification of such deposits.

Additional Notes


[Note: Art. 5(4) of the DGSD]

11.2

03/07/2015

A firm must mark accounts (including client accounts and trust accounts) which are held on behalf of beneficiaries and which contain or may contain eligible deposits in a way that allows immediate identification of such accounts.

Additional Notes


[Note: Art 5(4) and 7(3) of the DGSD]

11.3

03/07/2015

A firm must be able to provide the FSCS with the aggregated amount of eligible deposits of every depositor.

11.4

03/07/2015

Upon receipt of a request by the FSCS, a firm must provide the information in 11.3 to the FSCS.

Additional Notes


[Note: Art 7(6) of the DGSD]

11.5

03/07/2015

A firm must be able to provide the FSCS with all information necessary to enable the FSCS to prepare for the payment of compensation in accordance with this Part.

Additional Notes


[Note: Art 4(8) and 8(6) of the DGSD]

11.6

03/07/2015

Upon receipt of a request by the FSCS, a firm must provide the information in 11.5 so as to enable the FSCS to prepare for and pay compensation in accordance with this Part.

Additional Notes


[Note: Art 4(8) and 8(6) of the DGSD]

11.7

03/07/2015

A firm must take reasonable steps to ensure the accuracy of the data it holds to satisfy the requirements of this Chapter.

11.8

03/07/2015

The information required by 11.1 and 11.2 must be electronically stored.