In accordance with Section 38 (1) of the Investor Compensation Act, 1998, Permanent TSB p.l.c. wishes to inform actual and intending clients of the following information concerning investor compensation:
- that the Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances of compensation to certain clients (known as eligible investors *) of authorised investment firms, as defined in the Act;
- that Permanent TSB p.l.c. is a member of that compensation scheme;
- that where an entitlement to compensation is established, the compensation payable will be the lesser of: (a) 90 per cent. of the amount of the client’s loss which is recognised for the purposes of the Investor Compensation Act, 1998; or (b) compensation of up to €20,000.
For further information, please ask at any Branch for a copy of the booklet, "Investor Compensation - How does it work"
* A person is an eligible investor if they are a client of an investment firm that has failed and have made an application for payment under section 34 of the Investor Compensation Act, 1988.
