Regulation 50 Cessation of employment
Where an employer sends a certificate under regulation 23(1) of the Income Tax Regulations (form P45) if on the date of the certificate he–
(a)
has received notice that the employee is a borrower as described in regulation 34(1); and
(b)
he has not received notice from the Board under regulation 34(3) requiring him to cease making deductions on and after a date which is before the date on which he ceased to employ the employee
he shall include in the statement a statement that the employee is a borrower.