Regulation 6 Breach of income spending condition

This regulation applies where an Association fails to apply the amount (or any part of it) referred to in regulation 5(2) to the planned or programmed activities referred to in regulation 5(3) before the fifth anniversary of the last day of the accounting period in which the relevant income arose.

Where this regulation applies the Association shall be deemed not to have complied with the condition in section 508(1)(a) in relation to any accounting period which falls in whole or in part in the calendar year that ends on the sixth anniversary of the last day of the accounting period in which the relevant income arose.