Home FCA Handbook COMP COMP 6 COMP 6.1 Application and Purpose
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COMP 6.1 Application and Purpose

Application

01/12/2001R

This chapter applies to the FSCS.

01/12/2001G

It is also relevant to claimants.

Purpose

01/12/2001G

The purpose of this chapter is to specify the types of person against whom a claimant must have a claim in order to be eligible for compensation, and when those persons are 'in default'. Generally, this occurs when they are insolvent or unable to meet their liabilities to claimants.

29/04/2016G

To be eligible for compensation a claimant's claim must be against a relevant person (or, where applicable, a successor) in default: see COMP 3.2.1 R (2).