20
Disclosure of Withdrawal or Exclusion from the Deposit Guarantee Scheme
20.1
A firm must inform depositors within one month if it withdraws from or is excluded from the deposit guarantee scheme.
[Note: Art. 16(7) of the DGSD]
- 31/12/2020
20.2
A Gibraltar-based credit institution with an establishment in the UK must inform depositors of that establishment within one month if it withdraws from or is excluded from the Gibraltar DGS.
- 31/12/2020
20.3
This rule is effective from 23:00 on 31/12/2020.
A firm must inform depositors of deposits which:
- (1) immediately prior to IP completion day, were eligible deposits; and
- (2) on IP completion day, ceased to be eligible deposits by virtue of not being held at a UK or Gibraltar establishment,
that such deposits ceased to be eligible deposits on IP completion day; and must do so as soon as practicably possible after IP completion day and in any event within one month after IP completion day.
- 31/12/2020