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The Credit Institutions (Protection of Depositors)Regulations 1995
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Exclusion where institution no longer eligible
6.—(1) An EEA institution which is participating in a UK scheme shall be excluded from participation in that scheme if the Deposit Protection Board (“the Board”) determines under this regulation that it is no longer eligible to participate in that scheme.
(2) The Board shall not make a determination under this regulation unless, after consultation with such of the relevant authorities (if any) as it considers appropriate, it is satisfied that—
(a)the scope of the protection afforded to depositors by the institution’s home State scheme; and
(b)the level of the protection so afforded,
are each not less than that afforded to depositors by the UK scheme in which the institution is participating.
(3) Written notice of a decision of the Board under paragraph (2) above, stating the reasons for it, shall be given to the institution.
(4) An exclusion under this regulation shall not have effect—
(a)until the time for appealing under regulation 8 below against the Board’s decision under paragraph (2) above has expired; or
(b)if an appeal is made under that regulation, unless and until that decision is confirmed by the Chancellor of the Exchequer.
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