Prudential Regulation Authority Rulebook

1.1

This Part applies to the FSCS.

1.2

In this Part, the following definitions shall apply:

contracts of insurance

has the meaning given in Article 3(1) of the Regulated Activities Order.

FCA compensation scheme rules

means the rules of the compensation scheme that are FCA rules.

management expenses levy

means a levy imposed by the FSCS to meet management expenses.

operating a dormant account fund

means any of the regulated activities specified in:

1. article 63N(1)(a) of the Regulated Activities Order (meeting of repayment claims); or
   
   
2. article 63N(1)(b) of the Regulated Activities Order (managing dormant account funds (including the investment of such funds)).

participant firm

has the meaning given in the PRA Handbook for the purposes of the PRA’s rules in FEES 1 and has the meaning given in the FCA Handbook for the purposes of the FCA’s rules in FEES 1.

policyholder protection scheme

means the compensation scheme for claims under contracts of insurance.

PRA class

means a class to which the FSCS allocates levies in accordance with PRA rules.

regulatory costs

means the periodic fees payable to the PRA or FCA by a participant firm (and where applicable, the Society) in accordance with FEES 4 in the PRA Handbook and FEES 4 in the FCA Handbook.

1.3

Unless otherwise defined, an italicised expression used in this Part and in the Depositor Protection Part, has the same meaning as in the Depositor Protection Part.

1.4

Unless otherwise defined, an italicised expression used in this Part and in the Dormant Account Scheme Part, has the same meaning as in the Dormant Account Scheme Part.