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Application provision

9.1 This Chapter applies only to the FSCS.

9.1

03/07/2015

This Chapter applies only to the FSCS.

9.2

03/07/2015

The FSCS must administer the dormant account scheme:

  1. (1) in accordance with the rules in this Part and any other rules prescribed by law;
  2. (2) in a manner that is procedurally fair; and
  3. (3) in accordance with the European Convention on Human Rights.

9.3

03/07/2015

The FSCS must publish for claimants on its website all necessary information:

  1. (1) on the operation of the dormant account scheme; and
  2. (2) on the process, eligibility and conditions for payment of compensation.

9.4

03/07/2015

The FSCS may agree to pay the reasonable costs of an eligible claimant bringing or continuing insolvency proceedings against a dormant account fund operator in respect of protected dormant accounts (whenever instituted), if the FSCS is satisfied that those proceedings would help it to discharge its functions under this Part.

9.5

03/07/2015

The FSCS must have regard to the need to use its resources in the most efficient and economic way in carrying out its functions under this Part.

9.6

03/07/2015

The FSCS must take appropriate steps to ensure that claimants are informed of how they can make a claim for compensation under the dormant account scheme as soon as a possible after the compensation date.