BCOBS 1
Application
BCOBS 1.1
General application
- 01/11/2009
The general application rule
BCOBS 1.1.1
See Notes
This sourcebook applies to a firm with respect to the activity of accepting deposits from banking
customers carried on from an establishment maintained by it
in the United Kingdom and activities
connected with that activity.
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Limitations on the general application rule
BCOBS 1.1.2
See Notes
The general application rule is modified in the chapters of this
sourcebook for particular purposes.
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BCOBS 1.1.3
See Notes
Except as provided for in BCOBS 1.1.4R, this sourcebook does not apply to:
- (1) payment services where Part 5 and 6 of the Payment Services Regulations apply; or
- (2) a person or firm which has permission for accepting deposits but only for the purposes of, or in the course of, an activity other than accepting deposits.
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BCOBS 1.1.4
See Notes
- (1) Chapters 2, 5 and 6 of BCOBS (except for BCOBS 5.1.11 R to BCOBS 5.1.19 R) apply to payment services where Parts 5 and 6 of the Payment Services Regulations apply.
- (2) Chapter 3 of BCOBS applies to payment services where Parts 5 and 6 of the Payment Services Regulations apply with the modifications set out in BCOBS 3.1.2 R(2).
- (3) A firm will not be subject to BCOBS to the extent that it would be contrary to the United Kingdom's obligations under an EU instrument.
- 01/12/2009
BCOBS 1.1.5
See Notes
BCOBS 5.1.13 R does not apply to a credit union.
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Exclusion of liability
BCOBS 1.1.6
See Notes
A firm must not seek to exclude or restrict,
or rely on any exclusion or restriction of, any duty or liability it may have
to a banking customer unless
it is reasonable for it to do so and the duty or liability arises other than
under the regulatory system.
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BCOBS 1.1.7
See Notes
The
general law, including the Unfair Terms Regulations,
also limits the scope for a firm to
exclude or restrict any duty or liability to a consumer.
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