Regulation 7 Maximum compensation payable in respect of deposits held with a compensation scheme member
United Kingdom
The PRA must make compensation scheme rules which specify the maximum compensation payable in respect of eligible deposits held by a person with a compensation scheme member—
in relation to categories of eligible deposit which fall within Article 6(2) of the deposit guarantee schemes directive; and
in relation to all other categories of eligible deposit.
Compensation scheme rules made by the PRA in accordance with paragraph (1) are subject to regulation 7A.
Annotations
Textual amendments
- F1
Reg. 7(1): reg. 7 renumbered as reg. 7(1) (3.7.2015) by The Deposit Guarantee Scheme (Amendment) Regulations 2015 (S.I. 2015/1456), regs. 1, 2(2)
- F2
Reg. 7(2) inserted (3.7.2015) by The Deposit Guarantee Scheme (Amendment) Regulations 2015 (S.I. 2015/1456), regs. 1, 2(3)
Notes on the whole SI
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 18) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xii)