Amendment of regulation 6C of the 2005 Regulations
This
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Memorandwm Esboniadol
9. In regulation 6C(2)(1) of the 2005 Regulations (withdrawal arrangements)—
(a)for “When the” substitute “Where a”;
(b)for sub-paragraph (b) substitute—
“(b)Article 75(4) shall apply as if amount B is treated as a debt due from the guarantors at the guarantee time for which (if there is more than one guarantor) they are jointly liable or, if the withdrawal arrangement so provides, jointly and severally liable.”.
(1)
Regulation 6C was inserted by regulation 7 of S.R. 2008 No. 132