PART 3REPORTING FUNDS AND THE TREATMENT OF PARTICIPANTS IN REPORTING FUNDS
CHAPTER 11LEAVING THE REPORTING FUND REGIME
Reporting fund not complying with requirements117
1
This regulation applies if—
a
a reporting fund gives a notice under regulation 116, and
b
the fund has not complied with all requirements imposed in this Part for all periods during which it was a reporting fund.
2
For the purposes of these Regulations the fund is treated as a fund to which regulation 114 has applied and not as a fund to which regulation 116 has applied.