(1)  The Trust may treat a concerted interstate default as if the default consisted of 2 or more separate defaults –

(a) one of which is a default to which this Part applies, where this jurisdiction is the relevant jurisdiction for one or more of the associates involved; and

(b) the other or others of which are defaults to which this Part does not apply, where another jurisdiction or jurisdictions are the relevant jurisdictions for one or more of the associates involved.

(2)  The Trust may treat a claim about a concerted interstate default as if the claim consisted of –

(a) one or more claims made under this Part; and

(b) one or more claims made under a corresponding law or laws.

(3)  A claim about a concerted interstate default is to be assessed on the basis that the fidelity funds of the relevant jurisdictions involved are to contribute –

(a) in equal shares in respect of the default, regardless of the number of associates involved in each of those jurisdictions, and disregarding the capping and sufficiency provisions of those jurisdictions; or

(b) in other shares as agreed by the Trust and the corresponding authority or authorities involved.

(4)  Subsection (3) does not affect the application of the capping and sufficiency requirements of this jurisdiction in respect of the amount payable from the Guarantee Fund after the claim has been assessed.