If the
FSCS is satisfied that:
(1) a claimant is or is likely at some future date to become entitled to receive a payment of compensation in respect of his actual, contingent or future rights against a relevant personin default:(b) as a result of a guarantee given or arrangements made by the Government of the
United Kingdom, an
EEA State, any other government or any other authority (in this section, an "Other Funder"); and
(2) the
FSCS has received prior funding in respect of, or is satisfied that it will be able to recover, the amount of that payment from the Non-UK Scheme or Other Funder;
the
FSCS may, irrespective of whether or not the
relevant person is in default under the laws or regulations of any other
EEA State or any other state or law-country:
(3) make a payment in respect of all or part of that compensation (whether or not yet due or payable) from the Non-UK Scheme or Other Funder, with or without the Non-UK Scheme or Other Funder's prior agreement;
(4) make a payment on account of, or advance to the claimant, the whole or part of the amount in (3) on such terms as the
FSCS considers appropriate;
(5) (having been satisfied as to the total amount to be paid or advanced to the claimant) ascertain the proportion of any such payment or advance attributable to the Non-UK Scheme or Other Funder at any time, whether before or after making the payment or advance;
(6) (to the extent that prior funding has not been provided by the Non-UK Scheme or Other Funder) recover from the Non-UK Scheme or Other Funder the whole or any part of the amount of compensation paid or monies paid on account or advanced in respect of potential compensation which is or is likely to be payable to a claimant by the Non-UK Scheme or Other Funder, in accordance with
COMP 15.1.17 R to
COMP 15.1.20 R; and/or
(7) take such other steps in connection with such payment or advance by the
FSCS or to facilitate the payment of compensation that is due or may become due from the Non-UK Scheme or Other Funder as the
FSCS considers appropriate;
and references to payment of compensation, payment on account or advance to the claimant include taking such action for the claimant's benefit or on the claimant's behalf.