Regulation 9 Appeal against rejection of application or withdrawal of approval

An unauthorised unit trust may appeal if an application is rejected or the Commissioners withdraw approval.

The notice of appeal must be given to the Commissioners within a period of 42 days beginning with the day on which the notice of rejection or withdrawal is given.

On an appeal, the tribunal may make a decision to uphold or quash the rejection or withdrawal.

If the tribunal decides to quash a rejection of an application, these Regulations apply as if the Commissioners had accepted the application in the form in which it was considered by the tribunal.

If the tribunal decides to quash the withdrawal of approval, these Regulations apply as if the Commissioners had not withdrawn their approval.