Versions

 

COB 12.3.8

(1) The Operator of a Scheme must ensure that the Administrator notifies a Member of the Scheme in respect of whom a payment is due:
(a) if payment under the Payment Schedule is not paid on the due date; and
(b) if the amount is not recovered, of the consequences of the nonpayment to the Member.
(2) The Administrator of the Scheme must notify the Operator:
(a) if any payment under the Payment Schedule is not paid on the due date; and
(b) if the amount is not recovered, of the consequences of the nonpayment for the Members of the Scheme.
Derived from DFSA RMI261/2019 (Made 18th December 2019). [VER35/01-20]