If the FSCS determines that compensation is payable (or any recovery or other amount is payable by the FSCS to the claimant),2 it must pay it to the claimant, or as directed by the claimant, unless:
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(1)
arrangements have or are being made to secure continuity of insurance under COMP 3.3.1 R to COMP 3.3.2E R or the FSCS is taking measures it considers appropriate to safeguard eligible claimants under COMP 3.3.3 R to COMP 3.3.6 R; or
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(2)
COMP 11.2.2 R or COMP 11.2.3 R applies.1