SCHEDULE 11 The Financial Ombudsman Service
Financial Services Act 2012 (2012 c 21) | Legislation

SCHEDULE 11 The Financial Ombudsman Service

Section 39

1

In section 226 (compulsory jurisdiction), in subsection (3)(a), for “Authority†substitute “FCAâ€.

2

In section 226A (consumer credit jurisdiction), in subsection (7), for “Authority†substitute “FCAâ€.

3

In section 227 (voluntary jurisdiction), in subsection (6), for “Authority's†substitute “FCA'sâ€.

4

(1)     Section 228 (determination under the compulsory and consumer credit jurisdiction) is amended as follows.

(2)     In subsection (4), in paragraph (c), omit “in writingâ€.

(3)     After subsection (6) insert—

“(6A)     But the complainant is not to be treated as having rejected the determination by virtue of subsection (6) if—

(a)     the complainant notifies the ombudsman after the specified date of the complainant's acceptance of the determination,

(b)     the complainant has not previously notified the ombudsman of the complainant's rejection of the determination, and

(c)     the ombudsman is satisfied that such conditions as may be prescribed by rules made by the scheme operator for the purposes of this section are satisfied.â€

(4)     After subsection (7) insert—

“(7A)     Where a determination is rejected by virtue of subsection (6), the notification under subsection (7) must contain a general description of the effect of subsection (6A).â€

5

In

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