Reconstitutes the Deposit Insurance Scheme for the purpose of providing limited compensation to insured depositors under certain circumstances.
Published Date: 27 April 2011
Deposit Insurance and Policy Owners' Protection Schemes (Financial Penalty) Order 2011
Sets out the financial penalties payable by a scheme member who fails to comply with asset maintenance requirements under the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011. The scheme protects depositors and policy owners in case of a bank or insurer failure.