4. The items specified in paragraph 3(a) to (d) must be—U.K.
(a)available to the authorised payment institution for unrestricted and immediate use to cover risks or losses as soon as these occur; and
(b)net of any foreseeable tax charge at the moment of their calculation or be suitably adjusted in so far as such tax charges reduce the amount up to which these items may be applied to cover risks or losses.
Commencement Information
I1Sch. 3 para. 4 comes into force in accordance with reg. 1(2)