Paragraph 4 Joining of undertakings with a group which is required to register as a participant

(1)

Sub-paragraphs (2) to (4) apply to a group or undertaking (“E”) where the following change occurs in the post-qualification period—

(a)

E becomes a significant group undertaking as a member of another group (“F”); and

(b)

F is required to register under article 24 but has not applied for registration.

(2)

In respect of the change F must—

(a)

apply for registration as a participant in accordance with article 11;

(b)

when doing so notify the administrator that E is a member of F and when that occurred;

(c)

in that notification F must inform the administrator whether or not F requests that E may apply for registration as a separate participant; and

(d)

in respect of the information required under paragraph 6 of Schedule 5, include the information which applied to E in the qualification year.

(3)

Where a request is made under sub-paragraph (2)(c), that must be treated as a request under article 25(2) and paragraphs (3) and (4) of that article apply.

(4)

Except where sub-paragraph (3) applies, E must not apply for registration as a participant.