Section 133K “Compensation” and related expressionsF1

(1)

In sections 133A to 133D references to compensation which is paid or payable “in respect of” relevant conduct include compensation which is paid (or to be paid)—

(a)

in connection with a claim by the customer for compensation in respect of the conduct, or

(b)

in circumstances where there is reason to suspect that company A may (or might in the absence of the payment) be or become liable to pay compensation in respect of relevant conduct—

(i)

to the customer, or

(ii)

in one or more of a class of cases which includes the customer's case.

(2)

In sections 133A to 133D and this section “compensation” includes any form of redress, whether monetary or non-monetary, and accordingly includes interest.

References in those sections to “payment” are to be interpreted accordingly.

(3)

In subsection (1)—

“claim” includes any claim or request, however made;
“customer” has the meaning given by section 133J;
“relevant conduct” is to be interpreted in accordance with section 133A(6).

Annotations

Textual amendments

F1: Ss. 133A-133N and cross-heading inserted (with effect in accordance with s. 18(2) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 18(1)

Notes on Part 3

Modifications

C1: Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)