Consequences of removal
16.—(1) On the day on which the removal of recognition takes effect–
(a)any liability of the relevant Health Board to pay to members of the former fund-holding practice an allotted sum shall cease;
(b)all the rights and liabilities of members of the fund-holding practice in relation to the allotted sum shall transfer to the relevant Health Board; and
(c)subject to paragraph (2), the fund-holding account shall be treated as having been opened by the relevant Health Board and that Board may deal with the allotted sum or any part of it standing at credit in that account as though it were the fund-holding practice.
(2) Where, on the day on which the removal of recognition takes effect, there remains in the fund-holding account any part of the allotted sum which may apply for the purposes specified in regulation 22 the relevant Health Board shall apply that part of the allotted sum to such of those purposes as the former fund-holding practice may require.