C1C2C3C4Part XV The Financial Services Compensation Scheme

Annotations:
Modifications etc. (not altering text)
C2

Pt. 15 modified (29.9.2008 at 8.00 a.m.) by The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008 (S.I. 2008/2546), art. 29 (with art. 30(6))

C3

Pt. 15 modified (7.10.2008 at 9.30 a.m.) by The Heritable Bank plc Transfer of Certain Rights and Liabilities Order 2008 (S.I. 2008/2644), art. 14 (with art. 15(8)

Miscellaneous

221ADelegation of functions

1

The scheme manager may arrange for any of its functions to be discharged on its behalf by another person (a “scheme agent”).

2

Before entering into arrangements the scheme manager must be satisfied that the scheme agent—

a

is competent to discharge the function, and

b

has been given sufficient directions to enable the agent to take any decisions required in the course of exercising the function in accordance with policy determined by the scheme manager.

3

Arrangements may include provision for payments to be made by the scheme manager to the scheme agent (which payments are management expenses of the scheme manager).