Section 218

At least once a year, the scheme manager must make a report to the regulators on the discharge of its functions. The report must— include a statement setting out the value of each of the funds established by the compensation scheme; and comply with any requirements specified in rules made by the regulators. The scheme manager must publish each report in the way it considers appropriate. The Treasury may— require the scheme manager to comply with any provisions of the Companies Act 2006 about accounts and their audit which would not otherwise apply to it, or direct that any such provision of that Act is to apply to the scheme manager with such modifications as are specified in the direction. Compliance with any requirement under subsection (4)(a) or (b) is enforceable by injunction or, in Scotland, an order for specific performance under section 45 of the Court of Session Act 1988. Proceedings under subsection (5) may be brought only by the Treasury.

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Source: legislation.gov.uk · retrieved 2026-09-04