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14.—(1) This regulation applies where two or more bodies corporate are treated as members of a group and the representative member applies to the Commissioners for—
(a)another body corporate (which is eligible under this Part) to be treated as a member of the group;
(b)a body corporate to cease to be treated as a member of the group;
(c)the bodies corporate no longer to be treated as members of the group; or
(d)another member to be substituted as the group’s representative member.
(2) In respect of an application under paragraph (1)(a), the representative member must satisfy the Commissioners that—
(a)the existing members of the group; and
(b)any body corporate which is the subject of the application,
have consented to group treatment.
(3) A body corporate is to be treated as a member of the group only—
(a)if the application is accepted by the Commissioners; and
(b)from a date notified by the Commissioners to the representative member.
(4) In respect of an application under paragraph 1(b) or (c), a body corporate is to be treated as not being a member of the group only—
(a)if the application is accepted by the Commissioners; and
(b)from a date notified by the Commissioners to the representative member and any body corporate which is the subject of the application.
(5) An application under paragraph 1(d) may be made by—
(a)the current representative member; or
(b)the body corporate that is applying to be substituted for the current representative member,
and the applicant must satisfy the Commissioners that the members of the group have consented to the substitution.
(6) In respect of an application under paragraph (1)(d), another member of the group is to be substituted as the representative member—
(a)if the application is accepted by the Commissioners; and
(b)from a date that the Commissioners are satisfied has been notified to all of the members of the group.
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