Regulation 50A Finance: reporting obligations for required paymentsF1

A designated person must inform the Treasury without delay if they make a required payment.

A person who makes a required payment on behalf of a designated person must inform the Treasury without delay that they have made the required payment.

A person must inform the Treasury without delay if they receive a reimbursement payment.

For the purposes of this regulation, references to a designated person are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

In this regulation—

• “designated person” has the meaning given in regulation 41A(8) (finance: exception from prohibitions for required payments);

• “reimbursement payment” has the meaning given in regulation 41A(8);

• “required payment” has the meaning given in regulation 41A(2).