Managing agents and members' agents
8.—(1) For the purposes of Schedule 19A and of these Regulations, if theperson who is acting as a managing agent or a members' agent in respectof the underwriting year corresponding to the year of assessment1988–89 is different from the person who was so acting at the endof that underwriting year (in this regulation referred to as“the original agent”), then“managing agent” and“members' agent” have the meanings given to them by sub-paragraph (a) or, as thecase may be, sub-paragraph (b) of paragraph (2).
(2) If the original agent ceases to act—
(a)before the beginning of the year of assessment 1991–92, then“managing agent” and“members' agent” mean—
(i)the person who is so acting at the beginning of that year ofassessment, or
(ii)if that person ceases so to act, such person as the Board maydetermine having regard to all the circumstances;
(b)after the end of the year of assessment 1990–91, then“managing agent” and“members' agent” mean such person as the Board may determine having regard to allthe circumstances.