OpenLegislation

Regulation 8 Breach of conditions for approval

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

(1)

Where—

(a)

any of the conditions specified in subsection (2) of section 842AA has ceased to be fulfilled, or

(b)

a resolution has been passed or a petition has been presented to wind up the company,

a trust company which has been given full approval shall forthwith give notice in writing to the Board of that fact.

(2)

Where—

(a)

any of the conditions specified in paragraph (a) or (b) of section 842AA(4) has not been fulfilled, or

(b)

any of the conditions included in a notice giving provisional approval and given under regulation 4(3) has been broken, or

(c)

after fulfilling the conditions specified in paragraphs (a) and (b) of section 842AA(4), any of the conditions specified in subsection (2) of section 842AA has ceased to be fulfilled, or

(d)

a resolution has been passed or a petition has been presented to wind up the company,

a trust company which has been given provisional approval shall forthwith give notice in writing to the Board of that fact.