Redress Exercise definition
Redress Exercise means any voluntary redress exercise undertaken by the Seller, Holdco or the Legal Title-Holder and/or mandated by the FCA or any other regulatory authority in terms of which the Seller, ▇▇▇▇ Holdco and/or the Legal Title-Holder is required to reimburse a Borrower any amount either owed or previously paid by such Borrower under a Loan whether with respect to any fees, interest or principal amounts and whether by way of the payment of such amount, payment holiday, payment forgiveness or principal balance reduction, in respect of issues arising from payment protection insurance (including accident, sickness and unemployment insurance) as considered in the Policy Statement PS 17/3 (entitled "Payment protection insurance complaints: feedback on CP16/20 and final rules and guidance") published in March 2017;