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Part XVU.K. The Financial Services Compensation Scheme


[F1224ZADischarge of functionsU.K.

(1)In discharging its functions the scheme manager must have regard toβ€”

(a)the need to ensure efficiency and effectiveness in the discharge of those functions, and

(b)the need to minimise public expenditure attributable to loans made or other financial assistance given to the scheme manager for the purposes of the scheme.

(2)In subsection (1)(b) β€œfinancial assistance” includes the giving of guarantees and indemnities and any other kind of financial assistance (actual or contingent).]