Paragraph 3 Mergers of public bodies

(1)

Sub-paragraphs (2) to (4) apply where a participant (“A”) merges with another participant (“B”) in year 1 (“the merger”) to form a new public body (“C”).

(2)

C must notify the administrator of the merger.

(3)

C must—

(a)

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

(b)

comply with this Order as if C existed for the whole of year 1.

(4)

On the registration of C, the administrator must cancel the registration of A and B for the remainder of the phase.