Cancellation of membership by a member6.
(1)
This regulation applies only in relation to any member which has been a member of the Scheme for at least 3 consecutive membership years.
(2)
A member of the Scheme may cancel its membership of the Scheme by giving notice of the cancellation in writing to the Welsh Ministers.
(3)
Where a notice under paragraph (2)—
(a)
is given before 1 September in a membership year, the notice takes effect at the end of that membership year;
(b)
is given on or after 1 September in a membership year, the notice takes effect at the end of the following membership year.