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Application provision

24.1 This Chapter applies only to DAS members.

24.1

03/07/2015

This Chapter applies only to DAS members.

24.2

03/07/2015

A firm must pay to the FSCS its share of each:

  1. (1) DAS management expenses levy; and
  2. (2) DAS compensation costs levy allocated to class J.

24.3

03/07/2015

If a firm does not pay the total amount of its share of a DAS levy, before the end of the date on which it is due, it must pay an additional amount as follows:

  1. (1) if the DAS levy was not paid in full before the end of the due date, an administrative fee of £250; plus
  2. (2) interest on any unpaid part of the DAS levy or administrative fee at the rate of 5% per annum above the Official Bank Rate from time to time in force, accruing on a daily basis from the date on which the amount concerned became due.