This chapter applies to the FSCS.
An incoming EEA firm, which is a credit institution, an IMD insurance intermediary, a MiFID investment firm4 or a UCITS management company, and its appointed representatives are not relevant persons in relation to the firm'spassported activities, unless it has top-up cover (and in the case of a UCITS management company, only in relation to managing investments (other than of a collective investment scheme), advising on investments or safeguarding and administering investments). (See definition of "participant firm").213 4
[Note: article 1(3)(i) of the Deposit Guarantee Directive]
Subject to COMP 6.3.6 R the FSCS may determine a relevant person to be in default if it is satisfied that a protected claim exists (other than an ICD claim or DGD claim), and the relevant person is the subject of one or more of the following proceedings in the United Kingdom (or of equivalent or similar proceedings in another jurisdiction):
the passing of a resolution for a creditors' voluntary winding up;
the appointment of a liquidator or administrator, or provisional liquidator or interim manager;
the making of an order by a court of competent jurisdiction for the winding up of a company, the dissolution of a partnership, the administration of a company or partnership, or the bankruptcy of an individual;
the approval of a company voluntary arrangement, a partnership voluntary arrangement, or of an individual voluntary arrangement.
For claims arising in connection with protected investment business, protected home finance mediation3 or protected non-investment insurance mediation, the FSCS has the additional power to determine that a relevant person is in default if it is satisfied that a protected claim exists, and:13
the FSCS is satisfied that the relevant person cannot be contacted at its last place of business and that reasonable steps have been taken to establish a forwarding or current address, but without success; and