Regulation 21 Notification by insurer that scheme to apply
An insurer who is a registrable person and—
is required to prepare the revenue account referred to in regulation 20(2)(a); or
not being required to prepare such a revenue account, keeps accounts as described in regulation 20(2)(b),
may notify the Commissioners in writing that the scheme should apply to him as regards accounting periods beginning on or after a date specified in the notification, being a date falling after the date the notification is made.
An insurer who has made a notification under paragraph (1) above may notify the Commissioners in writing that he wishes to withdraw the notification and, provided he makes the notification referred to in this paragraph no later than the last day by which he is required to make the return for the initial period and before he has made that return, the scheme shall not apply to him as regards any accounting period.
The fact that an insurer has on a previous occasion withdrawn or been expelled from the scheme under regulation 26 or 27 or withdrawn a notification under paragraph (2) above shall not prevent him making a notification under paragraph (1) above.