# The National Health Service (Fund-holding Practices) Regulations 1996, Regulation 17: Consequences of removal of recognition


(1) On the day on which removal of recognition takes effect, all the rights and liabilities of a fund-holding practice shall transfer to the Health Authority.
(2) 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 Health Authority and the Health Authority may deal with the allotted sum or any part of it remaining in that account as though it were the fund-holding practice.
(3) Where, on the day on which removal of recognition takes effect, there remains in the fund-holding account any part of an allotted sum which may be applied for the purposes specified in regulation 25, the Health Authority shall apply that part of the allotted sum for such of those purposes as the former fund-holding practice may require.

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Source: https://www.legislation.gov.uk/uksi/1996/706/regulation/17 (the official version)
Page: https://openlegislation.uk/national-health-service-fund-holding-practices-regulations-1996/regulation-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.