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Paragraph 14 Producer ceasing to be a member of a corporate group

Original text. Later amendments are not shown.

Where, in relation to the year during which XC leaves the corporate group, XC is registered separately with the appropriate agency—

(a)

if XC itself satisfies the threshold criteria, XC must comply with its obligations under these Regulations for that year as an individual producer;

(b)

if XC does not itself satisfy the threshold criteria, the holding company must comply with the obligations under these Regulations which XC had for that year as a relevant group member.