Article 2 Amendment to the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001

Article 3(7) of the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001^f1 is amended as follows.

After sub-paragraph (a) insert the following—

“(aa)

where, in relation to sub-paragraph (a)(ii), eligibility under an investment business compensation scheme would have been determined by reference to entitlement under the PPS, an application made to the scheme manager shall be deemed to have been entertainable under the investment business compensation scheme if it would have been so entertainable had the PPS applied in relation to a company in administration as it applied to a company in provisional liquidation; and”.