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Paragraph 3 Revocation of a person’s appointment as the deposit management organisation: on notice

Original text. Later amendments are not shown.

(1)

The person appointed as the deposit management organisation (“the resigning DMO”) may give notice (a “revocation notice”) to the Secretary of State stating that they wish to cease to be the deposit management organisation.

(2)

If the Secretary of State receives a revocation notice, the Secretary of State must—

(a)

revoke the resigning DMO’s appointment as the deposit management organisation, and

(b)

give the resigning DMO a notice which specifies the date on which the revocation takes effect.

(3)

The date specified for the purposes of sub-paragraph (2)(b) must not be before the end of the period of 18 months beginning with the date on which the Secretary of State receives the revocation notice.