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The Income Tax (Deposit-takers) (Audit Powers) Regulations 1992
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- UK Statutory Instruments
- 1992 No. 12
- Regulation 9
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Alteration of scope of approval of deposit-taker
9.—(1) The Board may, by notice to the deposit-taker, alter the scope of their approval of the deposit-taker under regulation 6 by withdrawing their approval in relation to one or more branches of the deposit-taker or an otherwise separately identifiable part of his business in the cases specified in paragraph (2).
(2) The cases specified in this paragraph are cases where the Board consider that one or more of the circumstances specified in regulation 8(4) (b) to (f) applies to the branch or branches of the deposit-taker or the part of his business referred to in paragraph (1), but not to the whole of his business or, as the case may be, the whole of that part of his business approved under regulation 6.
(3) Subject to paragraph (4), an alteration of approval under paragraph (1) shall have effect from—
(a)the last day of the latest period in respect of which an audit report has been furnished to the Board within the time stipulated by regulation 7(3) (g); or
(b)if the latest period in respect of which an audit report has been so furnished is a period in which the Board consider that one or more of the circumstances referred to in paragraph (2) applies to a branch of the deposit-taker or a part of his business, the last day of the latest period in which the Board consider that none of those circumstances applies.
(4) If there is no period in which an audit report has been furnished to the Board within the time stipulated by regulation 7(3) (g) or the Board consider that there is no period in which one or more of the circumstances referred to in paragraph (2) does not apply to a branch of the deposit-taker or a part of his business, an alteration of approval under paragraph (1) shall have the like effect as if, so far as concerns that part of his business from which approval is withdrawn, the deposit-taker had not been approved under regulation 6.
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