(1)The Secretary of State may by notice given to an eligible person designate the person to be a counterparty for revenue collection contracts.
(2)A person designated under subsection (1) is referred to in this Part as a “revenue collection counterparty”.
(3)A person is eligible if the person is—
(a)a company registered under the Companies Act 2006 in England and Wales or Scotland, or
(b)a public authority, including a person any of whose functions are of a public nature.
(4)A designation may be made only with the consent of the person designated.
(5)The Secretary of State may exercise the power to designate so that more than one designation has effect under subsection (1), but only if the Secretary of State considers it necessary for the purposes of ensuring that—
(a)liabilities under a revenue collection contract are met,
(b)arrangements entered into for purposes connected to a revenue collection contract continue to operate, or
(c)directions given to a revenue collection counterparty by virtue of this Part continue to have effect.
(6)A designation ceases to have effect if—
(a)the Secretary of State revokes the designation by notice given to the person designated (in which case the designation ends on the date specified in the notice), or
(b)the person withdraws consent to the designation by giving not less than 3 months’ notice in writing to the Secretary of State.
(7)At any time after the first designation under subsection (1) has effect, the Secretary of State must, so far as reasonably practicable, exercise the power to designate so as to ensure that at least one designation has effect under subsection (1).
(8)The Secretary of State must publish a notice given to a person under subsection (1) or (6)(a).
(9)As soon as reasonably practicable after a designation ceases to have effect, the Secretary of State must make a transfer scheme under section 26 to ensure the transfer of all rights and liabilities under any revenue collection contract to which the person who has ceased to be a revenue collection counterparty was a party.
(10)Revenue regulations may include provision about the period of time for which, and the circumstances in which, a person who has ceased to be a revenue collection counterparty is to continue to be treated as a revenue collection counterparty for the purposes of the regulations.
Commencement Information
I1S. 16 in force at Royal Assent, see s. 44(1)(b)