PART 2
The Scheme
Cancellation of membership by a memberI16
1
This regulation applies only in relation to a member which has been a member of the Scheme for at least three consecutive membership years.
2
The member may cancel its membership of the Scheme by giving the Secretary of State notice in writing of the cancellation.
3
Where a notice under paragraph (2)—
a
is given before 1st September in a membership year, the notice takes effect at the end of that membership year;
b
is given on or after 1st September in a membership year, the notice takes effect at the end of the following membership year.