(1) In the event of deposits being unavailable, the coverage level for the aggregate deposits of each depositor is €100,000.

(2) Without limitation to paragraph (1) and subject to paragraph (3), certain deposits specified in paragraph (4) are protected above the coverage level mentioned in paragraph (1) (in this Regulation referred to as a "temporary high balance") up to a limit of €1 million for 6 months after that amount has been credited or from the moment when such deposits become legally transferable.

(3)Deposits protected in the circumstances mentioned in paragraph (4)(b)(ii) shall not be subject to the limits set out in paragraph (2) during the 6 month period referred to in paragraph (2).

(4) In order to qualify as a temporary high balance, a part of an eligible deposit in excess of the coverage limit provided for in paragraph (1) must meet at least one of the following criteria:

(a) it comprises -

(i) monies deposited in preparation for the purchase of a private residential property (or an interest in a private residential property) by the depositor,

(ii) monies which represent the proceeds of sale of a private residential property (or an interest in a private residential property) of the depositor, or