[F16U.K.An insurance or other financial security shall not satisfy the requirements of this article if it can cease for reasons other than the expiry of the period of validity of the insurance or security specified in the certificate under paragraph 2 before three months have elapsed from the date on which notice of its termination is given to the authorities referred to in paragraph 5 unless certificate has been surrendered to these authorities or a new certificate has been issued within the said period. The foregoing provisions shall similarly apply to any modification, which results in the insurance or security no longer satisfying the requirements of this article.]
Textual Amendments
F1Sch. 11ZA inserted (5.2.2015 for specified purposes, 14.4.2015 in so far as not already in force) by Wreck Removal Convention Act 2011 (c. 8), ss. 1(4), 2(2), Sch.; S.I. 2015/133, arts. 2, 3