UK Statutory Instrument SI 2015/486 United Kingdom

The Deposit Guarantee Scheme Regulations 2015

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Plus 3 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Introductory Provisions

0 of 3 sections shown
3 other sections in this Part — procedural and definitional
s.001 Citation and commencement
s.002 Interpretation
s.003 Meaning of “compensation scheme member”
Part 2

The compensation scheme

3 of 10 sections shown
s.005 Notification to the scheme manager of problems with a compensation scheme member Regulated
Other duties (1) — Crown / regulator
  • PRA must notify scheme manager of member financial difficultiesStatutory regulator
s.006 Time limit for determining that a compensation scheme member is unable to repay deposits Regulated
Other duties (1) — Crown / regulator
  • Regulator must determine deposit repayment inability within 5 working daysStatutory regulator
s.007 Maximum compensation payable in respect of deposits held with a compensation scheme member Regulated
Other duties (1) — Crown / regulator
  • PRA must set deposit compensation limits in compensation scheme rulesStatutory regulator
7 other sections in this Part — procedural and definitional
s.004 Designation of competent authority and designated authority
s.007 Transitional maximum compensation level
s.008 Determination by PRA whether contributions may be raised by the scheme manager
s.009 Approval of increased levies for the purposes of the compensation scheme
s.010 Payment of compensation by the scheme manager on behalf of a non-UK scheme
s.011 Notification of covered deposits and available financial means of the compensation scheme
s.012 Notification of contents of co-operation agreements
Part 3

Amendments of primary and secondary legislation

0 of 5 sections shown
5 other sections in this Part — procedural and definitional
s.013 Amendment of FSMA
s.014 Amendment of the Insolvency Act 1986
s.015 Amendment of the Insolvency (Northern Ireland) Order 1989
s.016 Amendment of the Bankruptcy (Scotland) Act 1985
s.017 Credit Institutions (Protection of Depositors) Regulations 1995: revocation
Part 4

Review

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.018 Review

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.