Paragraph 13 Producer ceasing to be a member of a corporate groupI1

United Kingdom As made

Where, in relation to the year during which XC leaves the corporate group, XC is registered with the appropriate agency as part of a group registration—

(a)

if XC satisfies the threshold criteria as an individual producer—

(i)

XC must register with the appropriate agency as required by regulation 25(1)(a) within a period of 28 days starting with the day on which XC ceases to be a member of the group, and regulations 29 to 32 apply as if this were an occurrence specified in regulation 28(3)(a); but

(ii)

the holding company must comply with XC’s obligations under these Regulations for that year;

(b)

if XC does not satisfy the threshold criteria as an individual producer, the holding company must continue to comply with the obligations under these Regulations which XC had for that year as a relevant group member.

Annotations

Commencement

I1: Sch. 9 para. 13 in force at 1.1.2025, see reg. 1(2)