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Regulation 5 Refusal of 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 refusal of 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 refusal of approval is given, and

(b)

the reasons for the Board’s refusal of approval.

(3)

The company may appeal to the Special Commissioners against the refusal of approval.