Paragraph 9 Participant equivalents becoming participants
(1)
Sub-paragraphs (2) and (3) apply where the following change occurs—
(a)
a participant (“A”) consists of a group;
(b)
a participant equivalent (“B”) leaves that group; and
(c)
B does not become a member of another group.
(2)
In respect of the change—
(a)
B must apply for registration as participants in accordance with article 11;
(b)
A and B must notify the administrator of the change and when it occurred.
(3)
Where the change occurs in an annual reporting year, B must provide an annual report in respect of the annual reporting year as if B were a participant for the whole of that year.