Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 26 July 2013 - onwards
  Version 6 of 6    

229. Awards

(1) This section applies only in relation to the compulsory jurisdiction.

(2) If a complaint which has been dealt with under the scheme is determined in favour of the complainant, the determination may include -

(a) an award against the respondent of such amount as the ombudsman considers fair compensation for loss or damage (of a kind falling within subsection (3)) suffered by the complainant ("a money award");

(b) a direction that the respondent take such steps in relation to the complainant as the ombudsman considers just and appropriate (whether or not a court could order those steps to be taken).

(3) A money award may compensate for -

(a) financial loss; or

(b) any other loss, or any damage, of a specified kind.

(4) The FCA may specify for the purposes of the compulsory jurisdiction the maximum amount which may be regarded as fair compensation for a particular kind of loss or damage specified under subsection (3)(b).

(4A) [deleted]

(5) A money award may not exceed the monetary lim

Comparing proposed amendment...