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2. In regulation 1 of the principal Regulations (citation, commencement and interpretation), in paragraph (9)—
(a)omit “Subject to regulation 10A(2) and (6),”(1); and
(b)after “pre-paid letter” insert “or by fax”.
3. In regulation 3 of the principal Regulations (application for recognition as a fund-holding practice), paragraph (4) is omitted.
4. In regulation 5 of the principal Regulations (grant of recognition as a fund-holding practice), in paragraph (2)(b)(2), for “1st April following the grant of recognition”, substitute “whichever date, of 1st April 2001, 1st April 2003, and so on, most closely follows the date on which recognition was granted”.
5. In regulation 13 of the principal Regulations (grounds for removal of recognition), in paragraph (1)—
(a)after “the next 1st April” insert “or, if 1st April has passed, for the current financial year,”; and
(b)for “that 1st April” substitute “midnight on 31st March immediately preceding that 1st April, or, if that date has passed, the last day of the month in which that notice is sent”.
6. In regulation 14 of the principal Regulations (procedure for removal of recognition), in paragraph (5)(b)—
(a)for “1st April” substitute “midnight on 31st March”; and
(b)after “following the sending of the notice” insert “or (as the case may be) the last day of the month in which the notice referred to in regulation 18(3) was sent”.
7. In regulation 18 (determination of allotted sum)—
(a)in paragraph (1), omit “Subject to regulation 10A,”(3); and
(b)in paragraph (2), for “28th February” substitute “30th April”.
8. Regulations 10 and 10A(4) of the principal Regulations are hereby revoked.
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