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Application provision

37.1 This Chapter applies only to the FSCS.

37.1

03/07/2015

This Chapter applies only to the FSCS.

37.2

03/07/2015

If the FSCS invests any available financial means of the deposit guarantee scheme, it must invest it in a low-risk and sufficiently diversified manner.

Additional Notes


[Note: Art. 10(7) of the DGSD]

37.3

03/07/2015

The FSCS must hold any amount collected from a DGS specific costs levy, DGS compensation costs levy or legacy costs levy to the credit of class A.

37.4

03/07/2015

Interest earned by the FSCS in the management of funds held to the credit of class A must be credited to that class, and must be set off against the DGS management expenses, DGS compensation costs and legacy costs allocated to that class.

37.5

03/07/2015

The FSCS must keep accounts which include:

  1. (1) the funds held to the credit of class A; and
  2. (2) the liabilities of class A.