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Regulation 2 Substitution of regulation 8 of the principal Regulations

Original text. Later amendments are not shown.

For regulation 8 of the principal Regulations (conditions for continuing recognition), there shall be substituted the following regulation—

“8

The members of a fund-holding practice shall continue to be entitled to recognition as a fund-holding practice—

(a)

where recognition has been granted in accordance with regulation 5(1) but has not yet taken effect in accordance with regulation 5(2), so long as the conditions specified in paragraphs 1, 2 and 5 of Schedule 2 are fulfilled in relation to that practice; and

(b)

where recognition has taken effect in accordance with regulation 5(2), so long as all the conditions specified in Schedule 2 are fulfilled in relation to that practice.”.