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Regulation 5 Withdrawal of a member of a fund-holding practice

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Subject to paragraph (2), a member of a fund-holding practice may withdraw from the practice and the recognition as a fund-holding practice of the remaining members of the practice shall not be affected by the withdrawal.

(2)

A member of a fund-holding practice who is a partner of another member of the practice may not withdraw from the fund-holding practice unless he also ceases to be a partner of that other member.