COMP 6.1 Application and Purpose
Application
This chapter applies to the FSCS.
Purpose
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.
To be eligible for compensation a claimant's claim must be against a relevant personin default: see COMP 3.2.1 R (2).