Regulation 47 Affected core payments: general
(1)
A payment (an “affected core payment”) is to be made under the IBCS in relation to an eligible affected person (“Q”) in accordance with this Chapter.
(2)
The IBCA must make an affected core payment in relation to Q where—
(a)
an application has been made in relation to Q in accordance with regulation 48 and Chapter 2 of Part 6,
(b)
the IBCA has determined the application in accordance with regulation 70(3) and (4),
(c)
the IBCA has made an offer to make the affected core payment, and
(d)
that offer has been accepted.