7A.—(1) For the period from 3rd July 2015 to 31st December 2015, the maximum compensation payable in accordance with PRA compensation scheme rules in respect of eligible deposits held by a relevant person with a compensation scheme member is £85,000 (and no account shall be taken of any lower limit provided for in PRA compensation scheme rules), unless paragraph (2) applies.
(2) This paragraph applies if additional compensation is payable to a relevant person under PRA compensation scheme rules made to give effect to Article 6.2 of the deposit guarantee schemes directive.
(3) After 31st December 2015, the maximum compensation payable in respect of eligible deposits held by a relevant person with a compensation scheme member is the amount provided for by PRA compensation scheme rules.
(4) For the purposes of this regulation, a person is a “relevant person” if deposits held by that person—
(a)were, or would have been, eligible for compensation under the compensation scheme before 3rd July 2015, and
(b)are eligible for compensation under the compensation scheme on 3rd July 2015 and after that date.]
Textual Amendments
F1Reg. 7A inserted (3.7.2015) by The Deposit Guarantee Scheme (Amendment) Regulations 2015 (S.I. 2015/1456), regs. 1, 2(4)