Part 3 Transfer of Property and Staff from the OLC to the FOS
Financial Guidance and Claims Act 2018 (2018 c 10) | Legislation

Part 3 Transfer of Property and Staff from the OLC to the FOS

Power of OLC to make transfer schemes

13

The OLC may make one or more schemes for the transfer of property, rights and liabilities of the OLC to the FOS.

14

A scheme made under paragraph 13 is not to be capable of coming into force unless it is approved by the Treasury and the Lord Chancellor.

15

The OLC may not submit a scheme to the Treasury or the Lord Chancellor for approval under paragraph 14 without the consent of the FOS and the FCA.

Power of Lord Chancellor to make transfer schemes

16

Paragraph 17 applies if the OLC fails to make a scheme under paragraph 13 in circumstances where the Lord Chancellor considers that it is necessary for such a scheme to be made.

17

The Lord Chancellor may, with the approval of the Treasury,

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