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Regulation 9 Direction etc. by the Secretary of State

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The Secretary of State, where he is satisfied that a deposit is required to be made with the Accountant General pursuant to regulation 8 above or under an agreement of the kind mentioned in section 9(2)(b) of the Act, may (and on the application of the depositor shall)—

(a)

certify the fact of the requirement,

(b)

specify the minimum in pounds sterling, and

(c)

direct the Accountant General to receive the deposit.

(2)

Where the minimum changes, the Secretary of State may (and on the application of the depositor shall)—

(a)

certify the fact of the change,

(b)

specify the changed minimum in pounds sterling, and

(c)

direct the Accountant General to receive any additional sum required to ensure that the deposit is maintained in accordance with regulation 8 above.