Article 394 Meaning of “liable schemes”I1

For paragraph (a) of regulation 2 of the Personal Pension Scheme (Compensation) Regulations 1988 (application of Regulations) substitute—

“(a)

mentioned in regulation 2(1)(a) of the Appropriate Schemes Regulations (insurance policies and annuity contracts), being a scheme established by an authorised insurer who is subject to the provisions of, or participates in, the Financial Services Compensation Scheme:”.

Paragraph (b) of regulation 2 is revoked.

In paragraph (c) of regulation 2, for “the Financial Services Compensation Rules” substitute “the Financial Services Compensation Scheme”.

For paragraph (d) of regulation 2 substitute—

“(d)

mentioned in regulation 2(1)(c) of those Regulations (interest-bearing accounts etc. with banks and building societies) being a scheme which is established by an authorised deposit taker who is subject to the provisions of, or participates in, the Financial Services Compensation Scheme.”.