Regulation 8 Determination by PRA whether contributions may be raised by the scheme managerF1
This regulation specifies conditions which must be met before the scheme manager may request a loan under section 223B of FSMA for the purposes of—
repaying depositors in accordance with the compensation scheme; or
contributing to the costs of the special resolution regime under section 214B of FSMA or section 61(2)(b) of the Banking Act 2009.
The conditions are—
the PRA has determined whether the scheme manager may raise contributions under the compensation scheme; and
the PRA has notified that determination in writing to the scheme manager and the Treasury.
Annotations
Textual amendments
- F1
Reg. 8 substituted (31.12.2020) by The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1285), regs. 1(3), 5(6); 2020 c. 1, Sch. 5 para. 1(1)
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)