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Application provision

19.1 This Chapter applies only to the FSCS.

19.1

03/07/2015

This Chapter applies only to the FSCS.

19.2

03/07/2015

If:

  1. (1) a DAS member (A) assumes the liability to repay the dormant accounts of another DAS member (B);
  2. (2) B is no longer liable to pay a DAS levy to the FSCS; and
  3. (3) the assumption of liability takes place after the date to which, or as of which, A's most recent tariff statement is drawn up,

the FSCS must require A pay an additional amount equal to the levy that would have been payable by B in relation to the relevant business and class J if the acquisition had not taken place and B had remained liable to pay DAS levies. The amount is based on B’s most recent tariff statement.

19.3

03/07/2015

This Chapter only applies with respect to those financial years of the FSCS for which A's levies are calculated on the basis of a tariff statement drawn up to a date, or as of a date, before the assumption of liability took place.