Payment—approval of arrangementsU.K.
12.—(1) An authorized warehousekeeper may elect to make payment by means of a direct debit.
(2) Before electing to make payment by direct debit the authorized warehousekeeper shall make application to the Commissioners for approval of the direct debit arrangements.
(3) Where the Commissioners are satisfied with those arrangements they shall approve them in writing.
(4) An authorized warehousekeeper whose arrangements have been approved shall immediately notify the Commissioners of any change in any information given to them for the purpose of approving those arrangements.
(5) The Commissioners may for reasonable cause revoke any approval granted under this regulation.
(6) Whenever a payment is due to be made by direct debit the authorized warehousekeeper shall ensure that he has sufficient funds in his account to satisfy the claim for payment.
Commencement Information
I1Reg. 12 in force at 1.4.2000, see reg. 1