Prudential Regulation Authority Rulebook

38.1

This Chapter applies only to the FSCS.

38.2

If a DGS member’s share of a DGS levy or an additional administrative fee or interest under 45.3 would be so small that, in the opinion of the FSCS, the costs of collection would be disproportionate to the amount payable, the FSCS may treat the DGS member as if its share of the levy or additional administrative fee amounted to zero.

38.3

The calculation of DGS levies must take into account previous levies, where funds raised in anticipation of meeting liabilities prove either more or less than the amount actually required.

38.4

The FSCS may adjust the calculation of a DGS member’s share of any DGS levy to take proper account of:

1. (1) any excess, not already taken into account, between previous levies of that type imposed in relation to previous periods and the relevant costs actually incurred in that period; or
2. (2) amounts that the FSCS has not been able to recover from DGS members as a result of 33.3 or 33.4; or
3. (3) amounts that the FSCS has not been able to recover from DGS members after having taken reasonable steps; or
4. (4) payments deferred under 46.2, the calculation of levies after an acquisition of deposit business under Chapter 39 or Chapter 40, calculations under 41.6; or
5. (5) anything else that the FSCS believes on reasonable grounds should be taken into account.

38.5

The FSCS must not adjust the calculation of a DGS member’s share of any DGS levy under 38.4 on the grounds that it would be inequitable for that firm to pay that share or part of it or on the grounds that it would be inequitable for the FSCS to retain that share or part of it. Any such claim should be dealt with under Chapter 46.