Allocation of CRR credit institutions to a statutory compensation scheme

(1) One of the following institution groups is allocated to each statutory compensation scheme:
1. the group of CRR credit institutions under private law, or
2. the group of CRR credit institutions under public law.
(2) Where only one statutory compensation scheme exists, the CRR credit institutions are allocated to that compensation scheme.
(3) Where new compensation schemes are delegated or established after 29 December 2020, the allocation of CRR credit institutions is determined, by way of derogation from subsection (1), according to criteria set by the Federal Ministry of Finance by statutory instrument not requiring the consent of the Bundesrat.
(4) BaFin may, on the application of another statutory compensation scheme, allocate a CRR credit institution to it, where
1. the CRR credit institution demonstrates a legitimate interest in the requested allocation,
2. the performance of the task of the compensation scheme to which the CRR credit institution belongs is not jeopardised, and
3. the other compensation scheme consents to the requested allocation.
(5) BaFin may also allocate CRR credit institutions to another statutory compensation scheme where all CRR credit institutions belonging to a compensation scheme have
1. applied for allocation to another compensation scheme, and
2. the other compensation scheme consents to the requested allocation.
(6) An application under subsection (2) or subsection (3) must be made at least six months before the intended change of compensation scheme.
(7) A CRR credit institution is exempt from allocation to a statutory compensation scheme where it belongs to an institutional protection scheme recognised under section 43.