Except in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act9, a8 money award may be such amount as the Ombudsman considers to be fair compensation for one or more of the following:8
financial loss (including consequential or prospective loss); or
pain and suffering; or
damage to reputation; or
distress or inconvenience;
16Where the Ombudsman is determining what amount (if any) constitutes fair compensation as a money award in relation to a relevant new complaint or a relevant transitional complaint, the Ombudsman Transitional Order and the Mortgages and General Insurance Complaints Transitional Order require him to take into account what amount (if any) might have been expected to be awarded by way of compensation in relation to an equivalent complaint dealt with under the former scheme in question immediately before the relevant transitional order came into effect.
16If the Ombudsman considers that fair compensation requires payment of a larger amount, he may recommend that the respondent pays the complainant the balance. The effect of section 404B(6) of the Act is that this is also the case in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act.98
1 6 Except in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act9, a8 direction may require the respondent 8 to take such steps in relation to the complainant as the Ombudsman considers just and appropriate (whether or not a court could order those steps to be taken).88