Information in explanatory literature
47.—(1) Each of the following, namely, a UK institution, a building society, an EEA institution and a non-EEA institution, shall secure that either the information required by regulation 46(4) above or the information required by paragraphs (2) and (3) below is included in any explanatory literature which—
(a)relates to the making of deposits; and
(b)is supplied to depositors or intending depositors by the institution or society in the ordinary course of business.
(2) The information required by this paragraph is as follows—
(a)in the case of a UK institution or a building society, a statement to the effect—
(i)that most relevant deposits with the institution or society are protected by the relevant UK scheme; and
(ii)where the institution or society participates in a relevant host State scheme, that supplemental protection is afforded to such deposits by that scheme;
(b)in the case of an EEA institution, a statement to the effect—
(i)that most relevant deposits with the institution are protected by its home State scheme; and
(ii)where the institution participates in a UK scheme, that supplemental protection is afforded to such deposits by that scheme;
(c)in the case of a non-EEA institution which is participating in the deposit protection scheme, a statement to the effect that most relevant deposits with the institution are protected by that scheme;
(d)in the case of a non-EEA institution which is not participating in the deposit protection scheme, a statement to the effect that most relevant deposits with the institution are protected by its home State scheme.
(3) The information required by this paragraph is as follows—
(a)a statement as to the level of the protection afforded by the scheme or, as the case may be, each of the schemes as respects which a statement is required by paragraph (2) above; and
(b)a statement to the effect that additional information about that scheme or each of those schemes may, in accordance with regulation 46 above, be obtained by any depositor or intending depositor who requests it.
(4) A host State scheme is a relevant host State scheme for the purposes of paragraph (2) above if the explanatory literature is sent from an office in the EEA State in which that scheme is in force.
(5) Paragraph (8) of regulation 46 above applies for the purposes of this regulation as it applies for the purposes of that regulation.
(6) In this regulation—
“ecu” means—
(a)the European currency unit as defined in Article 1 of Council Regulation No. 3320/94/EC(1); or
(b)any other unit of account which is defined by reference to the European currency unit as so defined;
“EEA currency” means the currency of an EEA State or ecus;
“relevant deposit”, in relation to a UK institution, a building society, an EEA institution or a non-EEA institution, means a deposit in an EEA currency—
made with a United Kingdom office of the institution or society; or
in the case of a UK institution or building society, made with an office of the institution or society in another EEA State;
“the relevant UK scheme” has the same meaning as in regulation 46 above.
O.J. L350, 31.12.94, page 1.