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Regulation 15 Plan manager ceasing to qualify

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

A person shall cease to qualify as a plan manager and shall notify the Board forthwith of that fact where–

(a)

the person no longer fulfils the conditions of regulation 11;

(b)

in the case of an individual, he becomes bankrupt or, in Scotland, his estate is sequestrated, or makes any arrangement or composition with his creditors generally; or

(c)

in the case of a company a resolution has been passed or a petition has been presented to wind it up.