Bank Services: Charities

Treasury written question – answered on 16th October 2008.

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Photo of John Stanley John Stanley Conservative, Tonbridge and Malling

To ask the Chancellor of the Exchequer whether bodies that are (a) registered charities only, (b) both registered charities and also companies limited by guarantee and (c) unincorporated associations are included within the Government's commitment to protect bank deposit holders up to the sum of £50,000.

Photo of Ian Pearson Ian Pearson Parliamentary Under-Secretary, Department for Business, Enterprise & Regulatory Reform, Economic Secretary, HM Treasury

The Financial Services Authority (FSA) is responsible for making the rules of the Financial Services Compensation Scheme (FSCS), including the rule change which increased the compensation limit for bank deposits to £50,000, and the rules which determine whether a body is eligible to claim compensation under the scheme. The increased compensation limit applies in relation to claims by all eligible claimants. The rules on eligibility for FSCS compensation are set out in the FSA handbook which is available on the FSA website. Guidance on eligibility for FSCS compensation is available on the FSCS website.

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Ron Sutton
Posted on 17 Oct 2008 3:27 pm (Report this annotation)

Not really an answer from Ian Pearson - He's saying "Find out for yourself", but it's good of John Stanley to raise an important question for thousands of small organisations