(1) The amount of the guarantee payment payable to a person maintaining eligible deposits with a credit institution is the total amount of the person's eligible deposits with the credit institution concerned or €100,000 or its equivalent, whichever is the less.
(2) A person maintaining eligible deposits with a credit institution in relation to which a compensation event has occurred may, subject to Regulation 14, claim as an ordinary creditor of the credit institution in respect of so much of those deposits as is in excess of any guarantee payment to the person.