FEES 6.2 Exemption

1. (1)

   A participant firm which does not conduct business that could give rise to a protected claim by an eligible claimant and has no reasonable likelihood of doing so is exempt from a specific costs levy, or a compensation costs levy, or both, provided that:

   1. (a)

      it has notified the FSCS in writing that those conditions apply; and

   2. (b)

      the conditions in fact continue to apply.

2. (2)

   The exemption takes effect from the date on which the notice was received by the FSCS, subject to FEES 6.2.6 R.

FEES 6.2.1 R does not apply to a participant firm that may be subject to a claim under COMP 3.2.4 R.

A participant firm which is exempt under FEES 6.2.1 R must notify the FSCS in writing as soon as reasonably practicable if the conditions in FEES 6.2.1 R no longer apply.