Regulation 16 was amended by S.I. 2010/582 and S.I. 2010/2599. The notice to which paragraph (1) refers must specify— the disqualifying circumstances; that the withdrawal shall only be effective from the date on which the last of the accounts has been transferred to another provider; and that from the date of the notice, the account provider must not accept subscriptions or open any new accounts.
From the date of the notice, the account provider must not accept subscriptions or open new accounts.