A VJ participant is subject to these standard terms, which may be amended or supplemented by the Financial Ombudsman Service with the approval of the FSA.318

By agreeing to participate, a VJ participant also agrees that the Voluntary Jurisdiction covers an act or omission that occurred before the VJ participant was participating in the Voluntary Jurisdiction, whether the act or omission occurred before or after commencement.318

The following rules and guidance apply to VJ participants as part of the standard terms, except where the context requires otherwise:

1. (1)

   DISP 1 (Treating complaintsfairly), except:

   1. (a)

      DISP 1.5 (Complaints record rule);

   2. (b)

      DISP 1.6 (Complaints reporting rules); and

   3. (c)

      DISP 1.7 (Lloyd's);

2. (2)

   DISP 2 (Jurisdiction of the Financial Ombudsman Service), except:

   1. (a)

      DISP 2.3 (Compulsory Jurisdiction); and

   2. (b)

      DISP 2.4 (Consumer Credit Jurisdiction); and

3. (3)

   DISP 3 (Complaints-handling procedures of the Financial Ombudsman Service).318

The Ombudsman has the same powers to make determinations and awards under the Voluntary Jurisdiction as he has under the Compulsory Jurisdiction (see DISP 3.7 (Awards by the Ombudsman)).

If the complainant accepts the Ombudsman's determination within the time limit specified by the Ombudsman, the determination will be binding on the VJ Participant and may be enforced in court by the complainant.318

The following rules in FEES apply to VJ participants as part of the standard terms, but substituting 'VJ participant' for 'firm':

1. (1)

   FEES 2.2.1 R (late payment) but substituting 'FOS Ltd' for 'the FSA';

2. (2)

   FEES 2.3.1 R and 2.3.2 R (remission of fees);

3. (3)

   FEES 4.2.6 R (1)(b) (periodic fees);

4. (4)

   FEES 5.3.6 R (general levy) but substituting:

   1. (a)

      'Voluntary Jurisdiction' for 'Compulsory Jurisdiction' ; and

   2. (b)

      'FOS Ltd' for 'the FSA';

5. (5)

   FEES 5.3.8 R (calculation of general levy) but

   substituting 'part 4' for 'part 2';

6. (6)

   FEES 5.4.1 R (information) but substituting:

   1. (a)

      'FOS Ltd' for 'the FSA'; and

   2. (b)

      'part 4' for 'part 2';

7. (7)

   FEES 5.5.1 R (standard case fee); but substituting 'part 4' for 'part 3';

8. (8)

   FEES 5.5.6 R (special case fee);

9. (9)

   FEES 5.5.15 R (case fee exemption);

10. (10)

    FEES 5.7.1 R , 5.7.2 R to 5.7.4 R (payment) but substituting, in FEES 5.7.1 R, 'FOS Ltd' for ' the FSA';

11. (11)

    FEES 5.8.1 R (joining the Financial Ombudsman Service); and

12. (12)

    FEES 5 Annex 1 R (fees payable).318

A VJ participant may not withdraw from the Voluntary Jurisdiction unless:

1. (1)

   the VJ participant has submitted to FOS Ltd a written plan for:

   1. (a)

      notifying its existing customers of its intention to withdraw; and

   2. (b)

      handling complaints against it before its withdrawal;

2. (2)

   the VJ participant has paid the general levy for the year in which it withdraws and any other fees payable; and

3. (3)

   FOS Ltd has approved in writing both the VJ Participant's plan and the date of withdrawal (which must be at least six months from the date of the approval of the plan).318

None of the following is to be liable in damages for anything done or omitted to be done in the discharge (or purported discharge) of any functions in connection with the Voluntary Jurisdiction:

1. (1)

   FOS Ltd;

2. (2)

   any member of its governing body;

3. (3)

   any member of its staff;

4. (4)

   any person acting as an Ombudsman for the purposes of the Financial Ombudsman Service;

except where:

1. (5)

   the act or omission is shown to have been in bad faith; or

2. (6)

   it would prevent an award of damages being made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) of the Human Rights Act 1998.318