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Application provision

22.1 This Chapter applies only to the FSCS.

22.1

03/07/2015

This Chapter applies only to the FSCS.

22.2

03/07/2015

The FSCS must allocate any DAS compensation costs levy to DAS members in accordance with the amount of DAS compensation costs arising from, or expected to arise from claims in respect of protected dormant accounts up to the levy limit of class J under 16.4.

22.3

03/07/2015

The FSCS must calculate each DAS member’s share of a DAS compensation costs levy by:

  1. (1) identifying the DAS compensation costs allocated to class J;
  2. (2) calculating, in relation to class J , the DAS member’s tariff base as a proportion of the total tariff base of all DAS members in class J, using the tariff statement most recently supplied;
  3. (3) applying the proportion calculated in (2) to the figure in (1).

22.4

03/07/2015

When calculating a DAS member’s share of a DAS compensation costs levy or DAS specific costs levy allocated to class J, the FSCS must use the class J tariff base.

22.5

03/07/2015

A firm which becomes a DAS member part way through a financial year of the dormant account scheme will not be liable to pay a share of a DAS compensation costs levy made in that year.

22.6

03/07/2015

21.6 applies to the calculation of a DAS member’s DAS compensation costs levy and its tariff base as it applies to the calculation of its DAS specific costs levy.