PART IIAPPROVAL OF A COMPANY FOR PURPOSES OF SECTION 842AA
Approval of a company4
1
The Board’s approval of a company as a trust company for the purposes of section 842AA shall be given to the company by notice in writing.
2
The notice shall specify—
a
the date on which the Board’s approval is given, and
b
the date from which the approval shall have effect.
3
A notice giving provisional approval may include conditions designed to ensure that the company will fulfil the conditions specified in subsection (4) of section 842AA.
4
The company may appeal to the Special Commissioners against the inclusion of any of the conditions mentioned in paragraph (3) above.