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Regulation 4 Approval of a company

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The Board’s approval of a company as a trust company for the purposes of section 842AA shall be given to the company by notice in writing.

(2)

The notice shall specify—

(a)

the date on which the Board’s approval is given, and

(b)

the date from which the approval shall have effect.

(3)

A notice giving provisional approval may include conditions designed to ensure that the company will fulfil the conditions specified in subsection (4) of section 842AA.

(4)

The company may appeal to the Special Commissioners against the inclusion of any of the conditions mentioned in paragraph (3) above.