# The Individual Savings Account Regulations 1998, Regulation 5DC: Default event in respect of cash account


A default event in respect of a cash account held by an account investor occurs where the account manager of that account is determined to be unable or likely to be unable to satisfy claims against the account manager in accordance with the rules of the scheme for compensation established pursuant to section 213 of the Financial Services and Markets Act 2000.

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Source: https://www.legislation.gov.uk/uksi/1998/1870/regulation/5DC (the official version)
Page: https://openlegislation.uk/individual-savings-account-regulations-1998/regulation-5DC
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.