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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.



This Chapter does not apply to the FSCS.



A firm must:

  1. (1) prepare an ‘information sheet’ and prepare an exclusions list;
  2. (2) ensure that the information sheet is kept up-to-date;
  3. (3) before entering into a contract on deposit-taking with the intending depositor:
    1. (a) provide the exclusions list to;
    2. (b) provide the information sheet to; and
    3. (c) obtain an acknowledgement of receipt of the information sheet from,
  4.       each intending depositor.
  5. (4) before entering into a contract on deposit-taking, inform each intending depositor of the exclusions from deposit guarantee scheme protection that fall within 2.2(4)(b) and 2.2(4)(k), if applicable.

Additional Notes

[Note: Art. 16(1), (2), (3) and (4) and Art. 19(2) of the DGSD]



Where the depositor holds eligible deposits through a UK establishment, the information sheet must be in English, or, if different, in the language that was agreed between the depositor and the firm when the account was opened. A firm which accepts eligible deposits  through a branch established in another EEA State may provide the information sheet in the official language of that EEA State.

Additional Notes

[Note: Art. 16(4) of the DGSD]