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Status: You are viewing the version of the handbook as on 2016-02-03.

COMP 5.2 What is a protected claim?

COMP 5.2.1R
COMP 5.2.2G
  1. (5.2.2

    [deleted]2

  2. 1
COMP 5.2.3R

7Notwithstanding COMP 5.2.1 R, where the relevant person in default:

  1. (1)

    is an authorised professional firm that is subject to the rules of the Law Society (England and Wales) or the Law Society of Scotland; and

  2. (2)

    with respect to its regulated activities, does not participate in the relevant society's compensation scheme:

a claim with respect to that person is only a protected claim if, when the basis for the claim arose, that person did not participate in the relevant society's compensation scheme with respect to its regulated activities.