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Application provision

48.1 This Chapter applies only to the FSCS.

48.1

03/07/2015

This Chapter applies only to the FSCS.

48.2

03/07/2015

If a firm ceases to be a DGS member and joins a non-UK scheme, the FSCS must transfer the contributions paid by that firm to the available financial means of the deposit guarantee scheme during the 12 months preceding the end of the membership to the relevant non-UK scheme.

48.3

03/07/2015

48.2 does not apply if the firm has been excluded from the deposit guarantee scheme pursuant to Article 4(5) of the DGSD.

48.4

03/07/2015

If some of the activities of a DGS member are transferred to another Member State and become subject to a non-UK scheme, the contributions paid by that firm during the 12 months preceding the transfer shall be transferred to the relevant non-UK scheme in proportion to the amount of covered deposits transferred.

Additional Notes


[Note: Art. 14(3) of the DGSD]