Regulation 21 Registration of a product line as a “low volume line”: updates to the SP register

(1)

The deposit management organisation must—

(a)

update the entry relating to a registered scheme producer in the SP register in accordance with paragraph (2) if—

(i)

any product line of the registered scheme producer is registered as a low volume line in relation to a scheme year, or

(ii)

the registration of any product line as a low volume line is cancelled before the end of the relevant scheme year, and

(b)

publish a notice of the change to the SP register in such manner as it considers appropriate to bring the change to the attention of scheme suppliers.

(2)

The entry for a registered scheme producer must state—

(a)

each scheme year in relation to which a product line of the registered scheme producer is registered as a low volume line, and

(b)

if that product line’s registration as a low volume line is cancelled before the end of a scheme year, the date on which that cancellation takes effect.