Schedule 2, Part 1, paragraph 4

The regulations must identify the persons to whom the trading scheme applies (the “participants”). The regulations— may identify the participants by reference to any, or any combination of, criteria, or provide for their identification by a specified person or body. The regulations may, in particular, identify or provide for the identification of the participants by reference to their responsibility for activities to which the trading scheme applies. The regulations may provide for more than one person to be treated as a single participant. The regulations may provide for persons to cease to be participants in circumstances specified in the regulations.

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Source: legislation.gov.uk · retrieved 2026-07-30