Requirement Notice
CARD PROTECTION PLAN LIMITED
SUPPLEMENTAL APPLICATION TO REQUEST THAT REQUIREMENTS ARE IMPOSED ON
FIRM
Card Protection Plan Limited hereby applies, pursuant to Part 4A of the Financial Services and
Markets Act 2000, for the requirements set out in the schedule below.
SCHEDULE
General
1.
This schedule sets out the terms of the requirements to be imposed on Card Protection
Plan Limited, to take immediate effect.
Card Protection Plan Limited (FRN 311489)
Requirements included in the Firm's permission at the request of the Firm under
section 55L of the Financial Services and Markets Act 2000
Terms referred to:
1.
In this Supplemental Requirement, expressions defined shall have the meanings given to
them in the Requirements unless the context otherwise requires.
2.
Expressions defined in the Authority’s Handbook of rules and guidance or in accordance
with paragraph 1 above have the meanings given to them unless the context otherwise
requires.
3.
In this Supplemental Requirement:
3.1
"this
Supplemental
Requirement"
means
the
amendments
to
the
Requirements set out in this document including Annex 1.
3.2
"the Requirements" means the requirements and provisions imposed by the
Authority on 13 August 2013 on the application of the Firm.
4.
The Requirements became effective on 13 August 2013.
5.
The Firm applies for the Requirements to be amended so as to incorporate the
amendments set out in this Supplemental Requirement.
6.
The Requirements shall be supplemented as follows:
6.1
The definition of 'Scheme of Arrangement' at paragraph 1.28 of the Requirements
shall mean the solvent scheme of arrangement under Part 26 of the Companies Act
2006 as sanctioned by the Court on 14 January 2014 (as subsequently modified in
accordance with its terms) and as described more particularly in Annex 1 to this
Supplemental Requirement. Changes to the Scheme of Arrangement as appended
to Part 1 of Annex C to the Requirements are highlighted through underlined or
struck through text.
6.2
All references in the Requirements to “Scheme Document” shall be references to
the Scheme of Arrangement described more particularly in Annex 1 hereto.
6.3
Paragraph 5.1 of Part 3 of Annex C of the Requirements shall be amended so as to
read as follows:
“If a Scheme Creditor disagrees with the amount of compensation payable to him,
he may initiate the Dispute Resolution Procedure to refer the dispute to the
Scheme Adjudicator, provided he does so within the time limits specified in Clauses
4.5 and 4.8 of the Scheme Document. If a Scheme Creditor disagrees with the
rejection of his Claim Form by the Scheme Administrators, and provided that the
Claim Form was received on or before 22 July 2016, he may initiate the Dispute
Resolution Procedure to refer the dispute to the Scheme Adjudicator, provided he
does so within the time limits specified in Clauses 4.7 to 4.9 of the Scheme
Document.”
11/37934478_1
3
Annex 1: Terms of the Scheme of Arrangement