Application and Definitions


Unless otherwise stated, this Part applies to:

  1. (1) the FSCS;
  2. (2) a firm; and
  3. (3) [Deleted]
  4. (4) the Society.


In this Part, the following definitions shall apply:

MERS levy

means a levy imposed by the FSCS on a firm or, where applicable, the Society, to meet relevant expenses incurred by the FSCS in connection with acting on behalf of the manager of the relevant scheme in accordance with Part 15A of FSMA.

manager of the relevant scheme

has the meaning given in section 224B(3) of FSMA.

relevant expenses

means management expenses as defined in section 224F(7) of FSMA.

relevant scheme

means a scheme or arrangement (other than the Financial Services Compensation Scheme) for the payment of compensation (in certain cases) to customers (including customers outside the United Kingdom) in respect of deposits or under contracts of insurance or in respect of similar financial services.