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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.

46.1

03/07/2015

The FSCS may reduce, remit or refund any overpaid amounts paid by a DGS member in respect of a particular period, due to a mistake of law or fact by the DGS member provided that the claim is made by the DGS member not more than two years after the beginning of the period to which the overpayment relates.

46.2

03/07/2015

The PRA may defer, in whole or in part, a DGS member’s obligation to pay a DGS compensation costs levy or a legacy costs levy if the PRA considers that such contributions would jeopardise the liquidity or solvency of the firm. Such deferral shall not be granted for a longer period than six months but may be renewed upon request of the firm.

46.3

03/07/2015

Any contributions deferred pursuant to 46.2 shall be paid when the payment no longer jeopardises the liquidity and solvency of the firm.

Additional Notes


[Note: Art. 10(8) of the DGSD]