S.L. 371.9 Art. 10Coverage of eligible deposits.

(1) The Scheme shall pay compensation in accordance with these regulations in respect of an eligible deposit if it is satisfied that the eligible deposit is a deposit with a member which is in default.

(2) The maximum compensation sum payable for the aggregate deposits of each depositor is EUR 100,000, save that additional compensation may be payable in cases to which sub-regulation (3) applies.

(3) In addition to the maximum compensation sum payable pursuant to sub-regulation (2), the maximum compensation sum payable for a temporary high balance is EUR 500,000.

(4) Notwithstanding the provisions of sub-regulations (1) to (3), the Scheme shall also, in accordance with the provisions of article 26(3)(e) of the Arbiter for Financial Services Act, settle any judgment or award of up to twenty thousand euro (€20,000), in respect of any civil liability in regard to the business of banking, which is obtained by a depositor against a member, which is, or has been declared, in default, and such payment shall be made within ten (10) working days from the day when the judgement or award becomes res judicata:

Provided that following the settlement of any such amount by the Scheme, the maximum compensation sum payable for the aggregate deposits of each depositor in terms of sub-regulation (2) shall be reduced by the amount settled by the Scheme in accordance with this sub-regulation.