OpenLegislation

Regulation 6 Termination by the Board of appointment of person nominatedI1

United Kingdom

(1)

The Board may at any time give notice to both the overseas insurer and the person nominated that they have decided to withdraw the approval which they have given to the person nominated on the grounds that–

(a)

he no longer satisfies the requirements of subsection (7) of section 552A; or

(b)

they have reason to believe that he cannot or will not secure that the relevant duties are properly discharged by or on behalf of the overseas insurer; or

(c)

they have reason to believe that he has failed to secure that relevant duties have been properly discharged by or on behalf of the overseas insurer.

(2)

Where the Board have given notice of their decision to withdraw their approval under paragraph (1) of a person nominated–

(a)

that person continues to be the tax representative of the overseas insurer until they give notice of their approval of the nomination of another person or themselves appoint another person in his place;

(b)

subject to paragraph (5) of regulation 13, the overseas insurer must nominate another person to be his tax representative within the period of three months after the date on which the Board gave notice of their decision; and

(c)

any such nomination must contain the information required by regulation 4 and the Board must give their decision on that nomination in accordance with regulation 5.

Annotations

Commencement

I1

Reg. 6 in force at 6.4.1999, see reg. 1