# The Tax-exempt Special Savings Account Regulations 1990, Regulation 11: Society or institution ceasing to be entitled to operate accounts


A society or institution shall cease to be entitled to operate accounts and shall notify the Board forthwith of that fact where–
(a) it ceases to be a building society or, as the case may be, to be authorised under the Banking Act 1987; or
(b) its directors have made a proposal under Part I of the Insolvency Act 1986 for a composition in satisfaction of its debts or a scheme of arrangement of its affairs; or
(c) an administration order is made in relation to it; or
(d) a receiver or manager of its property has been appointed; or
(e) a resolution has been passed or a petition has been presented to wind it up.

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Source: https://www.legislation.gov.uk/uksi/1990/2361/regulation/11 (the official version)
Page: https://openlegislation.uk/tax-exempt-special-savings-account-regulations-1990/regulation-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.