54BCredits to the Financial Claims Scheme Special Account

54B Credits to the Financial Claims Scheme Special Account (1) There must be credited to the Account amounts equal to the following: (a) an amount specified in a declaration under section 16AD of the Banking Act 1959 or section 62ZZC of the Insurance Act 1973 as an amount to be credited to the Financial Claims Scheme Special Account; (b) an amount borrowed under this Division. (2) To avoid doubt, if: (a) the amount specified in a declaration described in paragraph (1)(a) is credited to the Financial Claims Scheme Special Account; and (b) the declaration is later amended so as to increase the amount; only the increase, and not the whole of the increased amount, is to be credited to the Account as a result of the amendment. Note: Crediting the whole of the increased amount to the Account would lead to double‑counting of the amount specified in the declaration before the amendment.