{
  "url": "https://openlegislation.uk/deposit-guarantee-scheme-regulations-2015/regulation-3",
  "json_url": "https://openlegislation.uk/deposit-guarantee-scheme-regulations-2015/regulation-3.json",
  "legislation": "uksi/2015/486",
  "legislation_title": "The Deposit Guarantee Scheme Regulations 2015",
  "legislation_url": "https://openlegislation.uk/deposit-guarantee-scheme-regulations-2015",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Meaning of “compensation scheme member”",
  "text": "(1) In these Regulations “compensation scheme member” means an institution that—\n(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(b) falls into one of the categories of institution specified in paragraph (2).\n(2) The categories of institution mentioned in paragraph (1)(b) are—\n(a) an institution that—\n(i) is incorporated in or formed under the law of any part of the United Kingdom;\n(ii) is not an insurer; and\n(iii) has permission under Part 4A of FSMA to carry on the regulated activity of accepting deposits;\n(b) a building society within the meaning of section 119 of the Building Societies Act 1986 ;\n(c) a credit union; or\n(d) an institution that—\n(i) has its head office outside the United Kingdom;\n(ii) is not ... an insurer; and\n(iii) has permission under Part 4A of FSMA to carry on the regulated activity of accepting deposits.\n(3) For the purposes of this regulation—\n(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(b) “insurer” means an institution which is authorised under Part 4A of FSMA to carry on the regulated activity of effecting or carrying out contracts of insurance as principal.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 3(1)(a) omitted (31.12.2020) by virtue of The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1285), regs. 1(3), 5(3)(a); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 3(2)(d)(ii) omitted (31.12.2020) by virtue of The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1285), regs. 1(3), 5(3)(b); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Reg. 3(3)(a) omitted (31.12.2020) by virtue of The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1285), regs. 1(3), 5(3)(c); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "“regulated activity” is defined in section 417 of FSMA."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "1986 c. 53."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2015/486/regulation/3",
    "retrieved_at": "2026-10-28T23:45:00.417267+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."
}