Regulation 35 Reassessment by the Director of capital and liability to make a paymentI1

England and Wales

Where—

(a)

an individual complies with a request for information or documentary evidence in relation to capital under regulation 7(3) or 7(4);

(b)

new information in relation to an individual’s capital comes to light;

(c)

it appears to the Director that there has been a miscalculation of an individual’s capital or an administrative error; or

(d)

an individual notifies the Director of a change in financial circumstances in accordance with regulation 34 and does so—

(i)

within 28 days of the day on which the capital contribution order was issued; or

(ii)

otherwise with a reasonable excuse,

the Director must reassess the individual’s capital.

Annotations