These Regulations may be cited as the Investor Compensation Scheme Regulations 1998 and shall come into force on 26th September 1998.

In these Regulations:

• “investment firm” has the same meaning as in article 1 of the European Parliament and Council directive 97/9/EC6 of 3 March 1997 on investor compensation schemes.

• “relevant scheme” means a scheme for the payment of compensation to investors who suffer loss as a result of the inability of a participant in the scheme to meet its obligations arising out of investors' claims.