SCHEDULES

SCHEDULE 11The financial ombudsman service

12

After section 234A insert—

Successors to businesses

234BTransfers of liability

1

This section applies where a person (the “successor”) has assumed a liability (including a contingent one) of a person (the “predecessor”) who was, or (apart from this section) would have been, the respondent in respect of a complaint falling to be dealt with under the ombudsman scheme.

2

The complaint may (but need not) be dealt with under this Part as if the successor were the respondent.