SCHEDULEClaims Management Regulations
Conduct of authorised persons
12
1
Regulations may require the Regulator to establish a scheme to compensate a client of an authorised person where—
a
money is paid to the authorised person in complete or partial satisfaction of the client's claim, and
b
the client is unable to obtain all or part of the money because the authorised person becomes insolvent or is otherwise unable or unwilling to pay.
2
In particular, regulations may make provision—
a
about the purchase of bonds or other forms of insurance or indemnity;
b
about the funding of the scheme (which may include the application of part of fees charged in accordance with paragraph 7 and may not include payments, or other financial assistance, by a Minister of the Crown);
c
about procedure in connection with compensation (including criteria to be applied);
d
about the amount of compensation.