For paragraph (3) of regulation 22 of the principal Regulations (savings from the allotted sum) substitute–
(3) The Health Board shall consent to the application in any financial year of accumulated savings from the allotted sum for any of the purposes specified in paragraph (2)(a) to (e) if it is satisfied–
(a) that the proposed expenditure would be for the benefit of the patients of the members of the practice and would represent value for money; and
(b) that the financial position of the members of the practice in relation to the allotted sum is such that, if the proposed expenditure were incurred, the savings then left to them would not be less than the total amount of any overspends which it is reasonable to predict for the relevant financial years.
(3A) In paragraph (3)–
“overspend” means any amount by which the liabilities incurred by the members of a fund-holding practice in any financial year other than for purposes for which Health Board consent is required under this regulation exceed the proposed allotted sum for that practice for that financial year; and
“relevant financial years” means–
the financial year in which Health Board consent to the proposed expenditure is sought; and
where the accounts for the previous financial year have not yet been audited as mentioned in paragraph (2), that financial year.