# The Income Tax (Pay As You Earn) Regulations 2003, Regulation 97T: Outcome of application for reduction in the value of security held


(1) If an application under regulation 97S(1) (application for reduction in the value of security held) is successful, the officer must inform PGS of the reduced value of security that is still required or, where that value is nil, that the requirement for security has been cancelled.
(2) HMRC may make such arrangements as they think fit to ensure the necessary reduction in the value of security held.

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Source: https://www.legislation.gov.uk/uksi/2003/2682/regulation/97T (the official version)
Page: https://openlegislation.uk/income-tax-pay-as-you-earn-regulations-2003/regulation-97T
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.