A person ceases to be an authorised corporate service provider if the person ceases to be a relevant person as defined by regulation 8(1) of the Money Laundering Regulations.
The Secretary of State may by regulations—
provide for other circumstances in which a person ceases to be an authorised corporate service provider, whether automatically or as a result of a decision taken by the registrar;
provide for circumstances in which the registrar may suspend a person's status as an authorised corporate service provider pending a decision by the registrar under regulations made by virtue of paragraph (a).
The provision that can be made under subsection (2) includes provision as to—
procedure;
the period of a suspension;
the revocation of a suspension.
The provision that can be made in regulations under subsection (2) includes provision conferring a discretion on the registrar.
Regulations under subsection (2) are subject to affirmative resolution procedure.
In this section "Money Laundering Regulations" has the meaning given by section 1098B(8).