Regulation 5 Renunciation of recognition

(1)

The members of a fund-holding practice may renounce recognition by giving to the relevant Health Board notice of their intention to renounce recognition in accordance with paragraph (2).

(2)

A notice of renunciation referred to in paragraph (1) shall—

(a)

be in writing;

(b)

be signed by a majority of the members of the fund-holding practice;

(c)

be given at least three months before the *31st March next occurring after the sending of the notice;

(d)

be expressed to expire on 31st March; and

(e)

be accompanied by a statement including the following information:—

(i)

details of any NHS contracts into which the members of the practice have entered;

(ii)

the amount of the current balance in the fund-holding account;

(iii)

the amount standing at the credit of the practice in the fund-holding account which is available to be applied for the purposes specified in regulation 16 (savings from the allotted sum);

(iv)

the liabilities of the members of the practice in relation to the allotted sum.