Regulation 7 Amendment of regulation 5 of the principal Regulations

In regulation 5 of the principal Regulations (withdrawal of a member of a fund-holding practice), for paragraph (1) there shall be substituted the following paragraph—

“(1)

Where—

(a)

a member of a fund-holding practice withdraws from the practice; and

(b)

the conditions specified in regulation 3(2) continue to be fulfilled in relation to the practice, of the practice shall not be affected by the withdrawal.”.