[215 Rights of the scheme in insolvency]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[ [215 Rights of the scheme in insolvency]

[(1)     The compensation scheme may make provision—

(a)     about the effect of a payment of compensation under the scheme on rights or obligations arising out of matters in connection with which the compensation was paid;

(b)     giving the scheme manager a right of recovery in respect of those rights or obligations.]

(2)     Such a right of recovery conferred by the scheme does not, in the event of [a person's insolvency], exceed such right (if any) as the claimant would have had in that event.

[(2ZA)     The compensation scheme may also make provision in relation to a relevant person, or to a successor of a description falling within section 213(1)(b), who enters into or carries out funeral plan contracts and is unable, or likely to be unable, to satisfy claims made against them—

(a)     about rights or obligations in connection with any trust or contract of insurance relating to the funeral plan contracts entered into or carried out by such a person or successor;

(b)     about the effect of a payment of compensation, or of a payment in connection with securing continuity of funeral plan contracts under the scheme, on rights and obligations arising

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