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Application provision

26.1 This Chapter applies only to DAS members.

26.1

03/07/2015

This Chapter applies only to DAS members.

26.2

03/07/2015

A firm must pay its share of any levy made by the FSCS in one payment.

26.3

03/07/2015

A firm‘s share of a DAS levy is due on, and payable within, 30 days of the date when the invoice is issued.

26.4

03/07/2015

A firm must pay its share of a DAS levy by direct debit, credit transfer (e.g. BACS or CHAPS), cheque, Maestro, Visa Debit or by credit card (Visa/MasterCard/American Express only).

26.5

03/07/2015

If a firm ceases to be a DAS member part way through a financial year of the dormant account scheme:

  1. (1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and
  2. (2) the FSCS may make one or more levies upon it (which may be before or after the firm has ceased to be a DAS member but must be before it ceases to be a firm for the costs which it would have been liable to pay had the FSCS made a levy on all DAS members in the financial year it ceased to be a DAS member.