Regulation 15 Consequences of removal

On the day on which removal of recognition takes effect, all the rights and liabilities of a fund-holding practice shall transfer to the relevant Regional Health Authority.

Subject to paragraph (3), on the day on which the removal of recognition takes effect, the fund-holding account shall be treated as having been opened by the relevant Regional Health Authority and that Authority may deal with the allotted sum or any part of it remaining in that account as though it were the fund-holding practice.

Where, on the day on which removal of recognition takes effect, there remains in the fund-holding account any part of the allotted sum which may be applied for the purposes specified in regulation 20 (savings from the allotted sum) the relevant Regional Health Authority shall apply that part of the allotted sum for such of those purposes as the former fund-holding practice may require.