1) Upon receipt by the Board of confirmation from the Lead Mandated Bank that the requirements of Articles 19 and 20 of this Regulation have been satisfied, the Board shall send to each Eligible Depositor and/or Investor a certificate in substantially the form set out in the First Schedule appended to this Regulation, informing each Eligible Depositor and/or Investor of the amount of compensation due to him/her hereunder in respect of his/her Eligible Account(s) with the defaulting bank.

2) The certificate referred to in sub-Article (1) above, shall also contain instructions as to the method by which, and time within which, the compensatory amount referred to therein may be collected by the Eligible Depositor and/or Investor from the Lead Mandated Bank or Mandated Bank(s). No amounts of compensation shall be payable hereunder after the expiry of the period referred to in such certificate, which period shall not be more than 12 months.