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Regulation 10 Voluntary compliance by micro-businessesI1C1

United Kingdom

(1)

Nothing in these Regulations shall prevent—

(a)

a micro-business described in regulation 7(b) complying with regulation 11A of the Principal Regulations and effecting compliance with paragraph 2(ba) of Schedule 2 to those Regulations from the date on which the umbrella company is authorised; or

(b)

any micro-business complying with regulation 11A of the Principal Regulations and giving written notice, subject to regulation 4(7) to (10), to the Authority that it proposes to alter its instrument of incorporation before the end of the compliance period described in regulation 6(1) to effect compliance with paragraph 2(ba) of Schedule 2 to those Regulations.

(2)

Where either of the conditions described in paragraph (1) is met by a micro-business, regulation 33C of the Principal Regulations shall apply to that micro-business from the date on which it effected compliance with paragraph 2(ba) of Schedule 2 to those Regulations.

Annotations

Modifications

C1

Reg. 10 modified (19.12.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No.4) Order 2013 (S.I. 2013/2984), arts. 1(1), 3(1)(2)(b) (with art. 3(3))

Commencement

I1

Reg. 10 in force at 21.12.2011, see reg. 1