Part 3: Banking Section 18: Banking companies: expenses relating to compensation Details of the section Section 133K
New section 133K explains the scope of the meaning of "compensation" and related expressions.
	Subsection (1) contains the relevant interpretative provisions for compensation paid or payable "in respect of" relevant conduct, for the purposes of new section 133A. This would include voluntary, discretionary or ex gratia payments in lieu or expectation of compensation.
	Subsection (2) contains the relevant interpretative provisions for "compensation" in new section 133B and new section 133C. These include that interest and other forms of redress are included within the meaning of compensation. Compensation includes any amount relating to expenses incurred by a customer in pursuing a claim.
	Subsection (3) contains further definitional and interpretative provision.