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Financial Services and Markets Act 2000
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Financial Services and Markets Act 2000, Section 224C is up to date with all changes known to be in force on or before 10 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F1224CPower to require FSCS manager to act on behalf of manager of relevant schemeU.K.
This section has no associated Explanatory Notes
(1)This section applies if compensation is payable under a relevant scheme.
(2)The Treasury may by notice require the FSCS manager to exercise (on behalf of the manager of the relevant scheme) specified functions in respect of specified claims for compensation under the relevant scheme.
(3)A notice may be given only with the consent of the manager of the relevant scheme.
(4)In subsection (2) “specified” means specified, or of a description specified, in the notice.
(5)Claims or descriptions of claims may be specified by reference to the persons or description of persons whose claims they are.]
Textual Amendments
F1Pt. 15A inserted (12.10.2010) by Financial Services Act 2010 (c. 28), ss. 17, 26(3); S.I. 2010/2480, art. 2(d)
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