Paragraph 19

United Kingdom

(1)

The scheme operator may make arrangements with a relevant body—

(a)

for the exercise by that body of any part of the voluntary jurisdiction of the ombudsman scheme on behalf of the scheme; or

(b)

for the exercise by the scheme of any function of that body as if it were part of the voluntary jurisdiction of the scheme.

(2)

A “relevant body” is one which the scheme operator is satisfied—

(a)

is responsible for the operation of a broadly comparable scheme (whether or not established by statute) for the resolution of disputes; and

(b)

in the case of arrangements under sub-paragraph (1)(a), will exercise the jurisdiction in question in a way compatible with the requirements imposed by or under this Act in relation to complaints of the kind concerned.

(3)

Such arrangements require the approval of the F1FCA.

Annotations

Textual amendments

F1: Word in Sch. 17 para. 19(3) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 11 para. 29 (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.

Notes on Schedule 17

Modifications

C1: Sch. 17 applied (1.5.2009 for certain purposes and 1.11.2009 otherwise) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2), 125 (with reg. 3)
C2: Sch. 17 applied (30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 76(2) (with reg. 3)