The National Health Service (General Medical Services Contracts) Regulations 2015

Notice provisions specific to a contract with a company limited by shares

50.—(1) Where a contractor is a company limited by shares, the contractor must give notice in writing to the Board as soon as—

(a) any share in the company is transmitted or transferred (whether legally or beneficially) to another person on a date after the date on which the contract was entered into;

(b) a new director or secretary of the company is appointed;

(c) circumstances arise which may entitle a creditor or a court to appoint a receiver, administrator or administrative receiver in respect of the company;

(d) circumstances arise which would enable the court to make a winding up order in respect of the company;

(e) a company resolution is passed, or a court of competent jurisdiction makes an order, that the company is to be wound up; or

(f) the company is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986(1) (definition of inability to pay debts).

(2) A notice under sub-paragraph (1)(a) must confirm that the new shareholder or, as the case may be, the personal representative of a deceased shareholder —

(a) is—

(i) a medical practitioner, or

(ii) a person who satisfies the conditions specified in section 86(2)(b)(i) to (iv) of the Act(2) (persons eligible to enter into GMS contracts); and

(b) meets the further conditions imposed on shareholders by virtue of regulations 5 and 6.

(3) A notice under sub-paragraph (1)(b) must confirm that the new director or, as the case may be, secretary meets the conditions imposed on directors and secretaries by virtue of regulation 6.

(1)

1986 c.45. Section 123 was modified by section 90 of, and Schedule 15 to, the Building Societies Act 1986 (c.53), and by section 23 of, and Schedule 10 to, the Friendly Societies Act 1992 (c.40).

(2)

Section 86 was amended by section 202(1) of, and paragraph 32 of Schedule 4 to, the Health and Social Care Act 2012 (c.7).