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Paragraph 5 Cancellation of registration on the request of the registered person

Original text. Later amendments are not shown.

(1)

The deposit management organisation must cancel a person’s registration as a scheme producer if—

(a)

that person notifies the deposit management organisation that they have ceased to be a scheme producer, and

(b)

the deposit management organisation is satisfied that that is the case.

(2)

Where the deposit management organisation cancels a person’s registration as a scheme producer following a notification under sub-paragraph (1), the deposit management organisation must give the person a notice, which—

(a)

states that the person’s registration as a scheme producer has been cancelled, and

(b)

specifies the date on which that cancellation takes effect.