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Application provision

4.1 This Chapter applies only to the FSCS.

4.1

03/07/2015

This Chapter applies only to the FSCS.

4.2

30/01/2017

The maximum compensation sum payable for the aggregate eligible deposits of each depositor is £85,000, save that additional compensation may be payable in cases to which 4.3 applies.

Additional Notes


[Note: Art. 6(1) of the DGSD]

[Note: Regulation 7A of the deposit guarantee scheme regulations provides for a transitional maximum compensation level of £85,000 until 31 December 2015 for depositors who were, or would have been, eligible for compensation before 3 July 2015 and are eligible for compensation on and after 3 July 2015.]

4.3

03/07/2015

The maximum compensation sum payable for a temporary high balance is £1,000,000, save that no limit shall apply to the compensation payable for a temporary high balance arising from a payment in connection with personal injury or incapacity.

Additional Notes


[Note: Art. 6(2) of the DGSD]