Notice of acceptance or rejectionU.K.
3(1)Notice of the acceptance or rejection of an election shall be served on the electing participator before the expiry of the period of three months beginning on whichever of the following dates is the later or latest—U.K.
(a)the date on which the election was received by the Board;
(b)if a notice was given under paragraph 2(2)(b) above relating to the election, the date or, as the case may be, the last date which is the specified date, as defined in paragraph 2(4) above, in relation to such a notice;
(c)if a notice was given under paragraph 2(3) above relating to the election, the date on which that notice was given.
(2)If no such notice of acceptance or rejection is so served, the Board shall be deemed to have accepted the election and to have served notice of their acceptance on the last day of the period referred to in sub-paragraph (1) above.