Regulation 6 Amendment of Regulations

In regulation 4A (nominations)—

(a)

in paragraph (1) for sub-paragraph (b) there shall be substituted—

“(b)
if the Secretary of State accepts an application for a nomination by the grantee in relation to which the conditions specified in paragraph (3) are fulfilled—

(i)
after the grant of the right of retention but before its exercise; or

(ii)
upon the exercise of a right of retention.”;

(b)

in paragraph (2)—

(i)

after “exercised” there shall be inserted “, or upon the exercise of that right,”;

(ii)

after “application” there shall be inserted “for a nomination”.