SCHEDULE 3Other contractual terms

PART 7Notice requirements and rights of entry

Notice provisions specific to a contract with a company limited by shares50

1

Where a contractor is a company limited by shares, the contractor must give notice in writing to the Board as soon as—

a

any share in the company is transmitted or transferred (whether legally or beneficially) to another person on a date after the date on which the contract was entered into;

b

a new director or secretary of the company is appointed;

c

circumstances arise which may entitle a creditor or a court to appoint a receiver, administrator or administrative receiver in respect of the company;

d

circumstances arise which would enable the court to make a winding up order in respect of the company;

e

a company resolution is passed, or a court of competent jurisdiction makes an order, that the company is to be wound up; or

f

the company is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986 M1 (definition of inability to pay debts).

2

A notice under sub-paragraph (1)(a) must confirm that the new shareholder or, as the case may be, the personal representative of a deceased shareholder —

a

is—

i

a medical practitioner, or

ii

a person who satisfies the conditions specified in section 86(2)(b)(i) to (iv) of the Act M2 (persons eligible to enter into GMS contracts); and

b

meets the further conditions imposed on shareholders by virtue of regulations 5 and 6.

3

A notice under sub-paragraph (1)(b) must confirm that the new director or, as the case may be, secretary meets the conditions imposed on directors and secretaries by virtue of regulation 6.