Relinquishing safeguard mechanism credit units etc. to comply with requirements
22XNH Relinquishing safeguard mechanism credit units etc. to comply with requirements
If:
a person is required under section 22XNE or 22XNF to relinquish a specified number of relinquishable units; and
the person is the registered holder of one or more relinquishable units;
the person may, by electronic notice transmitted to the Regulator, relinquish any or all of the units held by the person.
The notice must specify:
the units that are being relinquished; and
the requirement to which the relinquishment relates; and
the account number or account numbers of the person’s Registry account, or the person’s Registry accounts, in which there is an entry or entries for the units that are being relinquished.
The units relinquished are cancelled and the Regulator must remove the entries for those units from the person’s Registry account.
The Registry must set out a record of each notice under subsection (1).
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