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Application provision

11.1 This Chapter applies only to the FSCS.

11.1

03/07/2015

This Chapter applies only to the FSCS.

11.2

03/07/2015

The FSCS may make any payment of compensation to a claimant in respect of a protected dormant account conditional on the claimant assigning the whole or any part of his rights against the dormant account fund operator.

11.3

03/07/2015

If a claimant assigns the whole or any part of his rights against any person to the FSCS as a condition of payment, the effect of this is the sum payable in relation to the rights so assigned will be payable to the FSCS and not the claimant.

11.4

03/07/2015

Before taking the assignment of rights from the claimant under 11.2, the FSCS must inform the claimant that if, after taking assignment of rights, the FSCS decides not to pursue recoveries using those rights, it will, if the claimant so requests in writing, reassign the assigned rights to the claimant. The FSCS must comply with such a request in such circumstances.