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3.—(1) Amend regulation 33A of the Principal Regulations (obligations of approved bodies) as follows.
(2) After paragraph (1)(a) insert—
“(aa)comply with such conditions as the regulatory body may impose from time to time under regulation 34(1)(aa) (including any conditions varied under regulation 34(1)(ab));”.
(3) In paragraph (1)(f) for “transfer to it or by it” substitute “transfer by that approved body”.
(4) In paragraph (1)(f)(ii) omit “, or as the case may require, to”.
(5) After paragraph (1)(h) insert—
“(ha)submit to the regulatory body at its request, not later than the day specified in paragraph (3), so many of the following details as it requires at any time during the relevant period—
(i)qualifying contributions and any other income or profit whatsoever received by it during the period,
(ii)any expenditure made by it during the period, and
(iii)any balances held during the period;
(hb)if the Commissioners are performing the functions specified in regulation 34(1) instead of the regulatory body, submit, at their request, not later than the day specified in paragraph (3), so many of the following details as they may require at any time during the relevant period—
(i)qualifying contributions and any other income or profit whatsoever received by it during the period,
(ii)any expenditure made by it during the period, and
(iii)any balances held during the period;”.
(6) For paragraph (1)(i) substitute—
“(i)submit to the regulatory body at its request, not later than the day specified in paragraph (3), independently audited financial accounts for the approved body’s last financial year; but such a request may not be made earlier than 10 months following the end of that financial year; and”.
(7) For paragraph (2) substitute—
“(2) For the purposes of paragraphs (1)(h), (1)(ha) and (1hb) the relevant period in respect of an approved body is—
(a)in the case of the first such period, the period commencing with the date on which the body was approved and ending on the following 31st March; and
(b)in the case of subsequent periods, the period of 12 months commencing with the day after the end of the first or, as the case may require, a subsequent period.”.
(8) After paragraph (2) insert—
“(3) The day referred to in paragraphs (1)(ha), (1)(hb) and (1)(i) is the fourteenth day following the day on which a request is made.
(4) Where an approved body submits details in accordance with a request made under paragraph (1)(ha) or paragraph (1)(hb) the requirement in paragraph (1)(h) shall not apply in respect of those details.”.
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