Regulation 17 Incorporation of TMO
(1)
The authority is not required to enter into a TMO agreement unless within 9 months of the local authority’s notification under regulation 15(2), the TMO is registered as—
(a)
an Industrial and Provident Society under the Industrial and Provident Societies Act 1965f1; or
(b)
a company under the Companies Act 2006f2.
(2)
The proposal notice is deemed to be withdrawn if the TMO fails to satisfy the requirements of paragraph (1).