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7SSo much of any amount owed at the relevant date by the debtor to one or more eligible persons in respect of an eligible deposit as exceeds any compensation that would be payable in respect of the deposit under the Financial Services Compensation Scheme to that person or those persons.
Commencement Information
I1Sch. 3 para. 7 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2
8SAn amount owed at the relevant date by the debtor to one or more eligible persons in respect of a deposit which—
(a)was made through a [F1non-UK] branch of a credit institution authorised by the competent authority of [F2the United Kingdom], and
(b)would have been an eligible deposit if it had been made through [F3a UK] branch of that credit institution.
Textual Amendments
F1Word in sch. 3 para. 8(a) substituted (17.8.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 (S.I. 2022/838), regs. 1(2), 8(2)(a)(i) (with regs. 24-26)
F2Words in sch. 3 para. 8(a) substituted (17.8.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 (S.I. 2022/838), regs. 1(2), 8(2)(a)(ii) (with regs. 24-26)
F3Words in sch. 3 para. 8(b) substituted (17.8.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 (S.I. 2022/838), regs. 1(2), 8(2)(b) (with regs. 24-26)
Commencement Information
I2Sch. 3 para. 8 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2