Approved account provider ceasing to act
This section has no associated Explanatory Memorandum
17.—(1) A person shall give notice to the Commissioners and to the account holder of an account which it manages of its intention to cease to act as the approved account provider not less than 30 days before it so ceases so that its obligations to the Commissioners under the account can be conveniently discharged at or about the time it ceases so to act.
(2) The notice to the account holder shall inform him or her of the right to transfer the account under regulation 19(1)(a), and of the rights under regulation 18(3).