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8. In regulation 37—
(a)after regulation 37(3)(1) insert—
“(3A) Where S has replaced a security (“the original security”) previously given by S and the Public Guardian has provided notice in accordance with regulation 35(4), the original security shall stand discharged 2 years from the date on which that notice was issued unless discharged by earlier order of the court upon application under paragraph (2)”;
(b)after regulation 37(4) insert—
“(5) For the purposes of paragraph (3A), if a person takes any step otherwise than under paragraph (2) with a view to discharging the original security before the end of the period specified paragraph (3A), the security is to be treated for all purposes as if it were still in place.”.
Regulation 37(3) was substituted by S.I. 2010/1063 regulations 2 and 4.
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