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Bank Services: Small Businesses

Volume 482: debated on Wednesday 5 November 2008

To ask the Chancellor of the Exchequer pursuant to the answer of 28 October 2008, Official Report, column 877W, on banking services: small businesses, whether the definition of a small business for the purposes of a claim on the Financial Services Compensation Scheme extends to (a) individual company accounts and (b) consolidated subsidising companies. (232659)

[holding answer 3 November 2008]: The Financial Services Authority (FSA) is responsible for making the rules of the Financial Services Compensation Scheme (FSCS), including the rules which determine whether a company or other body is eligible to claim compensation under the scheme. 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.