20.—(1) A person who—
(a)is not registered, and
(b)is entitled to customer insolvency credit in respect of a taxable disposal,
may claim the credit by making an application to WRA in writing.
(2) An application under paragraph (1) may not be made before the expiry of the period of six months beginning with the date of the relevant insolvency event.
(3) If WRA is satisfied that—
(a)the person is not registered,
(b)the person is entitled to an amount of customer insolvency credit, and
(c)the entitlement to the credit has not been transferred to any other person,
WRA must pay the person an amount equal to the amount of the credit.
(4) In this regulation, “the relevant insolvency event” means the insolvency event that gave rise to an entitlement to credit in respect of the taxable disposal.