Declaration by eligible person or appropriate person4
1
Subject to regulation 7(1), subsection (1)(b) of section 124 shall be taken not to apply to a payment of interest on a quoted Eurobond on the grounds that the condition in subsection (2)(a) of that section is satisfied, unless a declaration in writing has been made by the eligible person or by an appropriate person to the relevant payer confirming that that condition is satisfied with respect to the payment.
2
A declaration under paragraph (1) shall not have effect in relation to a payment of interest on a quoted Eurobond if the relevant payer—
a
receives a notification relating to that payment in accordance with the undertaking contained in the declaration,
b
receives a notice from the Board under regulation 7(2) relating to that payment, or
c
has reason to believe, by reference to information in his possession, that the declaration is, or has become, incorrect as respects that payment.
3
A declaration under paragraph (1) shall not have effect in relation to more than one payment of interest on a quoted Eurobond.