Qualifying insurers—withdrawal of approval by Board13.
(1)
This regulation specifies the circumstances (in this regulation referred to as “the disqualifying circumstances”) in which the Board may by notice withdraw their approval of a qualifying insurer for the purposes of section 55.
(2)
The disqualifying circumstances are that the Board have reason to believe—
(a)
that any provision of the principal sections, these Regulations, or of the Treasury Regulations, is not, or at any time has not been, satisfied in respect of a contract of private medical insurance under which insurance is provided by him; or
(b)
that a person to whom they have given their approval for the purposes of section 55 is not a qualifying insurer.
(3)
A notice under paragraph (1) shall specify—
(a)
the date from which the Board’s approval is withdrawn, and
(b)
the disqualifying circumstances.