(1) Where the need for funds determined for a compensation event exceeds, at the time of determination, the available financial means of the compensation scheme, the compensation scheme must, subject to section 30, raise special contributions in that amount without delay, where this is necessary to carry out the compensation procedure.
(2) Where the compensation scheme determines that the actual need for funds for the total compensation in the compensation event exceeds the determined need for funds, the compensation scheme is obliged to raise further special contributions without delay after that determination, to cover the need for funds.
(3) Special contributions fall due on notification of the special-contribution assessment.
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Part 3 · Deposit Guarantee Schemes › Division 2 · Obligation to Contribute; Covering the Need for Funds through Contributions and Payments › Section 29
Covering the need for funds through special contributions
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