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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 February 2009 - onwards
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123. Role of FSCS

(1) For the purpose of co-operating in the pursuit of Objective 1 in section 99 the FSCS -

(a) may make or arrange for payments to or in respect of eligible depositors of the bank, and

(b) may make money available to facilitate the transfer of accounts of eligible depositors of the bank.

(2) The FSCS may include provision about expenditure under this section; and, in particular -

(a) money may be raised through the imposition of a levy under Part 15 of the Financial Services and Markets Act in respect of expenditure or possible expenditure under this section, and

(b) sums raised in connection with the scheme (whether or not under paragraph (a)) may be expended under this section.

(3) In section 220(3)(a) of the Financial Services and Markets Act 2000 (Compensation Scheme: information) after "liquidator" insert ", bank liquidator".

(4) The FSCS is entitled to participate in proceedings for or in respect of a bank insolvency order.

(5) A bank liquidator must -

(a) comply with a request o

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