Section 70ZA

A designated person must inform the Treasury without delay if they make a required payment. A person who makes a required payment on behalf of a designated person must inform the Treasury without delay that they have made the required payment. A person must inform the Treasury without delay if they receive a reimbursement payment. For the purposes of this regulation, references to a designated person are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person. In this regulation— “designated person” has the meaning given in regulation 58A(8) (finance: exception from prohibitions for required payments); “reimbursement payment” has the meaning given in regulation 58A(8); “required payment” has the meaning given in regulation 58A(2).

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Source: legislation.gov.uk · retrieved 2026-08-30