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The Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001
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Repayment of recovered money
13.—(1) This article applies where the scheme manager receives money under section 62 of the Banking Act(1) or section 28 of the Building Societies Act(2) (“recovered money”).
(2) Where this article applies, the scheme manager must prepare and carry out a scheme for the repayment of recovered money to such persons, and in such amounts, as the scheme manager considers fair and equitable in the circumstances, having regard to the payments made by such persons by way of contributions or levies payable to the scheme manager, the Deposit Protection Board or the Building Societies Investor Protection Board.
(1)
Amended by S.I. 1995/1442 and by S.I. 1989/2405 (N.I. 19).
(2)
Amended by S.I.1995/1442, (N.I. 19) and amended and repealed in part by the Building Societies Act 1997 section 33 and Schedule 9.
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