Regulation 59 Default register

(1)

The Authority must publish and maintain a register containing the information described in paragraph (2) (a “default register”), and ensure, so far as practicable, that entries in the default register are accurate and up to date.

(2)

Where a scheme supplier fails to pay a quarterly levy payment, a levy credit payment, a payment of additional credit cover, or a mutualisation payment by the date on which that payment is due, the Authority must publish the following information in relation to that scheme supplier in the default register as soon as reasonably practicable —

(a)

their name,

(b)

whether they have failed—

(i)

to pay a quarterly levy payment, a levy credit payment, a payment of additional credit cover, or a mutualisation payment,

(ii)

to pay interest due in accordance with regulation 54,

(c)

the dates on which any outstanding payments mentioned in sub-paragraph (b) were made,

(d)

any financial penalty,

(e)

any other information in relation to their compliance with these Regulations that the Authority considers appropriate.

(3)

Where—

(a)

the Authority publishes any information under paragraph (2) in relation to a failure by a scheme supplier to pay a quarterly levy payment, a levy credit payment, a payment of additional credit cover, or a mutualisation payment, and

(b)

the Authority determines that they are an exempt supplier in relation to the scheme year in which the liability to make that payment arose,

the Authority must amend the entry in the default register to record that they are an exempt supplier, and the date on which they were determined to be an exempt supplier.

(4)

Any information published in accordance with paragraph (1) must be published for a minimum period of one year, or such longer period as the Authority determines.