Income and Corporation Taxes Act 1988

6(1)Where proposals are submitted to the Board under paragraph 3(1) or 5(3) above and they approve them within the further prescribed period mentioned in paragraph 3(5) or 5(4) above, the administrator of the scheme shall carry out the proposals within the period mentioned in paragraph 3(2) above.

(2)If the administrator fails to carry out the proposals within that period, paragraph 7 below shall apply.