12(1)Regulations may require the Regulator to establish a scheme to compensate a client of an authorised person where—E+W
(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.