If compensation is triggered, the Board will examine the records of the Scheme member to identify depositors entitled to compensation and the amount of their entitlements. It is not necessary for the depositors of the failed Scheme member to file a claim with the Board. In the process, the Board may require a depositor to provide information in support of his or her entitlement to compensation.
The Board will make compensation payments to depositors as soon as possible. Where appropriate, the Board will make an interim payment to a depositor before the entire amount of the depositor's compensation can be ascertained.