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COMP 8.3 Withdrawal of offer of compensation

COMP 8.3.1R

The FSCS may withdraw any offer of compensation made to a claimant if the offer is not accepted or if it is not disputed within 90 days of the date on which the offer is made.

COMP 8.3.2R

Where the amount of compensation offered is disputed, the FSCS may withdraw the offer but must consider exercising its powers to make a reduced or interim payment under COMP 11.2.4 R or COMP 11.2.5 R before doing so.

COMP 8.3.3R

The FSCS may repeat any offer withdrawn under COMP 8.3.1 R or COMP 8.3.2 R.

COMP 8.3.4R

The FSCS must withdraw any offer of compensation if it appears to the FSCS that no such offer should have been made.

COMP 8.3.5R

The FSCS must seek to recover any compensation paid to a claimant if it appears to the FSCS that no such payment should have been made, unless the FSCS believes on reasonable grounds that it would be unreasonable to do so, or that the costs of doing so would exceed any amount that could be recovered.