Regulation 69Z8 Multiple breaches of separate conditionsF1
United Kingdom
This regulation applies in relation to an open-ended investment company to which this Part applies if—
there has been a breach of at least two of the conditions in F2regulation 9A or regulations 69E to 69N,
at least one of the conditions breached is contained in a different regulation from that containing another of those breached, and
there have been five breaches in a period of ten years beginning with the first day of the accounting period in which the first breach occurs.
The Commissioners may give a termination notice to the company.
Annotations
Textual amendments
- F1
Pt. 4A inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5
- F2
Words in reg. 69Z8(1)(a) inserted (1.9.2009) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2009 (S.I. 2009/2036), regs. 1, 22