Notice provisions specific to an agreement with a qualifying bodyE+W
46.—(1) Where a qualifying body is a party to the agreement, the contractor must give notice in writing to the Board as soon as—
(a)any share in the qualifying body is transmitted or transferred (whether legally or beneficially) to another person on a date after the date on which the agreement was entered into;
(b)a new director or secretary of the qualifying body is appointed;
(c)the qualifying body passes a resolution, or a court of competent jurisdiction makes an order, that the qualifying body be wound up;
(d)circumstances arise which might entitle a creditor or a court to appoint a receiver, administrator or administrative receiver for the qualifying body;
(e)circumstances arise which would enable the court to make a winding up order in respect of the qualifying body; or
(f)the qualifying body 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 paragraph (1)(a) must confirm that the new shareholder, or, as the case may be, the personal representative of a deceased shareholder—
(a)falls within section 93(1) of the Act M2 (persons with whom agreements may be made); and
(b)meets the further conditions imposed on shareholders by virtue of regulation 5.
(3) A notice under 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 5.
Marginal Citations
M11986 c.45. Section 123 was modified by section 90 of, and Schedule 15 to, the Building Societies Act 1986 (c.5), and by the section 23 of, and Schedule 10 to, the Friendly Societies Act 1992 (c.40).
M2Section 93 was amended by paragraph 37 of Schedule 4 to the Health and Social Care Act 2012 (c.7).