{
  "url": "https://openlegislation.uk/bank-administration-scotland-amendment-rules-2010/article-11",
  "json_url": "https://openlegislation.uk/bank-administration-scotland-amendment-rules-2010/article-11.json",
  "legislation": "uksi/2010/2578",
  "legislation_title": "The Bank Administration (Scotland) (Amendment) Rules 2010",
  "legislation_url": "https://openlegislation.uk/bank-administration-scotland-amendment-rules-2010",
  "path": "article/11",
  "kind": "article",
  "number": "11",
  "heading": "Amendments to the Bank Administration (Scotland) Rules 2009",
  "text": "After rule 35, insert—\n“Rights of eligible depositor and set-off\n35A. (1) This rule applies if—\n(a) FSA Rules allow the FSCS to make gross payments of compensation in respect of protected deposits; and\n(b) all or part of a creditor’s claim against the bank is in respect of protected deposits.\n(2) In determining the sums due from the bank to an eligible depositor or from the eligible depositor to the bank for the purpose of any right or claim of set-off available to the bank against the eligible depositor—\n(a) where the total of the sums held by the bank for any eligible depositor in respect of protected deposits is no more than the amount prescribed as the maximum compensation payable in respect of protected deposits under Part 15 of the Financial Services and Markets Act 2000 (“the limit”), paragraph (3) applies; and\n(b) where the sums held by the bank exceed the limit, then paragraph (4) applies.\n(3) Where this paragraph applies, regardless of whether there are any sums due from the eligible depositor to the bank, the bank shall not be entitled to exercise or claim any right of set-off available to it against or in respect of those sums held by the bank for the eligible depositor in respect of the protected deposits; and the sum due to the eligible depositor from the bank will be the total of the sums held by the bank for that eligible depositor in respect of the protected deposits which sum shall be deemed free from any right or claim of set off by the bank.\n(4) Where this paragraph applies—\n(a) the bank shall be entitled to exercise any right or claim of set-off available to it only in respect of any sums held by the bank for that eligible depositor in excess of the limit, which sums shall be subject to any right or claim of set-off available to the bank; and\n(b) the sums due from the bank to the eligible depositor in respect of protected deposits will be—\n(i) the amount by which that total exceeds the limit, subject to any right or claim of set-off available to the bank; and\n(ii) the sums held by the bank for the eligible depositor in respect of protected deposits up to the limit.\n(5) Any arrangements with regard to set-off between the bank and the eligible depositor in existence before commencement of the bank administration shall be subject to this rule in so far as they relate to protected deposits.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2000 c.8."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2010/2578/article/11",
    "retrieved_at": "2026-10-29T02:27:30.076646+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}