COB 4.4.2
(1) In the event of:
(a) the appointment of a provisional liquidator, liquidator, receiver or administrator, or trustee in bankruptcy, over a Bank which is a Domestic Firm ; or
(b) a direction by the DFSA to a Bank which is a Domestic Firm under Article 76 of the Regulatory Law 2004 to deal with all or substantially all its Deposits in a specified manner,
eligible depositors of the Bank have priority over, and shall be paid in priority to, all other unsecured creditors of the Bank .
(2) In (1), an “eligible depositor” means, subject to (3), a Person who, at the relevant time, is a creditor of a Bank referred to in (1) by virtue of being owed an amount of Money held by the Bank as a Deposit .
(3) In (2), eligible depositor excludes any creditor which is:
(i) a Market Counterparty ; or
(ii) a bank.
[Added] DFSA RM144/2014 (Made 24th August 2014). [VER23/08-14]