Changing the law...

  • tokyo44joe
  • 18/03/09 31/05/09
  • a depositor
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Posted: Wed, 18/03/2009 - 06:06

apologies if this has already been written.

the day before it was announced by Gordon Brown that Iceland was pretty much bankrupt, the Tynwald in their infinite wisdom decided to change IOM customer protection policy so that bank protection would not apply to individual account holders.

My understanding is everything would have been ok if no motion was taken or am i getting my facts wrong. And how convenient to be on the eve of the $#$%% hitting the fan, that the law is changed..

Any thoughts..


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I think you might have got

  • gostuffyourself
  • 12/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 19/03/2009 - 19:55

I think you might have got the wrong end of the stick. They changed the law in October to bring the DCS in line with that offered by the UK: £50k per depositor as apposed to 75% of the first £20K.

Changing the law

  • srcoates
  • 10/10/08 31/05/09
  • a depositor
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  • Wed, 18/03/2009 - 13:19

Hi tokyo44joe, Check out lines 20, 30, 44 & 68 here

I think this may bring you up to speed with the latest version of the compensation scheme

changing the law

  • bobwin
  • 23/12/08 n/a (free)
  • a depositor
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  • Wed, 18/03/2009 - 07:01

Tokyo Joe--please clarify your point---not sure what exactly you are saying.