Back Custom print Link Text Only Rich Text Print

  • Executive Summary

    • CP-A.1.1

      The purpose of this Module is to set out a summary of rules and regulations establishing a Deposits and Unrestricted Investment Accounts Protection Scheme (the 'Scheme') for compensating Eligible account holders when the banks (referred to under Section CP-2.1) are unable, or are likely to be unable, to satisfy claims against them. For the purpose of this Module, Eligible account holders refer to Eligible Depositor and/or Investor as defined under Paragraph CM-2.1.5.

      October 2012

    • CP-A.1.2

      The body established to operate and administer the compensation scheme is the Deposits and Unrestricted Investment Accounts Protection Board (the 'Board'). This Module describes the rules that would allow the Board to:

      (a) Administer and implement the scheme; and
      (b) Establish rules of operation.
      October 2012

    • CP-A.1.3

      This Module also describes:

      (a) Who is eligible for receiving compensation;
      (b) How the scheme will be funded;
      (c) Who the contributing banks are; and
      (d) What are contributing banks' responsibilities regarding the implementation of the scheme.
      October 2012