# The Qualifying Private Placement Regulations 2015, Regulation 7: Production of creditor certificates to HMRC and cancelled certificates


(1) An officer of Her Majesty’s Revenue and Customs (“a relevant officer”) may by a notification given to a debtor (“D”), require D to produce a creditor certificate to the officer.
(2) A notification under paragraph (1) must—
(a) describe the certificate to be produced; and
(b) state the date (“the compliance date”) required for compliance (being a date not earlier than 28 days after the date on which the notification is given).
(3) D must by the compliance date produce the certificate to the relevant officer.
(4) Paragraph (5) applies where—
(a) D fails to comply with paragraph (3); or
(b) the relevant officer reasonably believes that a certificate produced by D is inaccurate in a material particular.
(5) Where this paragraph applies, the relevant officer may by a notification given to D determine that a creditor certificate identified in the notification has no effect.
(6) Where a notification is given under paragraph (5), the creditor certificate is of no effect on and from the date the notification is received by D.
(7) A creditor certificate which is of no effect further to this regulation is a “cancelled certificate”.

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Source: https://www.legislation.gov.uk/uksi/2015/2002/regulation/7 (the official version)
Page: https://openlegislation.uk/qualifying-private-placement-regulations-2015/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.