Regulation 11 Amendment of regulation 5 of the principal Regulations

Regulation 5 of the principal Regulations (grant of recognition as a fund-holding practice) is amended as follows.

In paragraph (1), for “as a standard fund-holding practice, a community fund-holding practice or a GP commissioning group (as the case may be)”, substitute “as a fund-holding practice”.

For paragraph (2)^f1, substitute—

“(2)

Subject to paragraph (3), recognition which has been granted—

(a)

on or after 31st July 1997 but before 1st April 2001 shall take effect from 1st April 2001; and

(b)

on or after April 2001 shall take effect from whichever date, of 1st April 2005, 1st April 2009, and so on, most closely follows the date on which recognition was granted.”.