Part 2

Trading income
Chapter 5

Trade profits: rules allowing deductions

Contributions to local enterprise organisations or urban regeneration companies

Supplementary provisions with respect to approvals
85
1
This section applies for the purposes of section 84.
2
The relevant national authority may give a body approval that is conditional on its compliance with such requirements as to—
a
accounts,
b
provision of information, and
c
other matters,
as the relevant national authority considers appropriate
3
If the relevant national authority approves a body on the basis that it has or is about to have a separate fund (see section 84(3)(b))—
a
the approval must specify the fund, and
b
section 82 applies only to a contribution to the body made wholly to or for the purposes of the fund.
4
The relevant national authority must withdraw the approval of a body as a local enterprise agency if—
a
condition A or B in section 84 is no longer met, or
b
the body is failing to comply with a requirement imposed as a condition of its approval.
5
The relevant national authority must give notice of withdrawal to the body concerned, specifying the date from which the withdrawal takes effect (which may be earlier than the date on which the notice is given).