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On 02/08/2015, you requested the version in force on 31/05/2012 incorporating all amendments published on or before 31/05/2012. The closest version currently available is that of 21/04/2011.
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Termination of appointment of SRS operator
5.
—(1)  The appointment of an SRS operator may be terminated as follows:
(a)
the Minister may, at any time, by notice in writing to an SRS operator, revoke the appointment of the SRS operator; or
(b)
an SRS operator may, at any time, by notice in writing to the Minister, relinquish its appointment as an SRS operator.
(2)  Prior to the termination of its appointment, an SRS operator shall —
(a)
inform all its SRS members that its appointment as an SRS operator is being terminated and that it will transfer their SRS accounts to any other SRS operator of their choice;
(b)
complete the transfer of SRS accounts maintained with it within 6 months from the date of the notice referred to in paragraph (1)(a) or (b), or such other period as the Minister may allow;
(c)
continue to discharge its duties and obligations under the Act and these Regulations until all SRS accounts maintained with it have been transferred to other SRS operators; and
(d)
bear all costs relating to the transfer of its SRS accounts to other SRS operators.
(3)  Where an SRS member fails to choose another SRS operator to take the place of his SRS operator whose appointment is being terminated such that his SRS operator is unable to comply with its obligation under paragraph (2)(b), the SRS operator whose appointment is being terminated shall transfer the SRS account of that SRS member to such other SRS operator as the Minister may direct.
(4)  The appointment of an SRS operator shall terminate upon completion of the transfer of all SRS accounts maintained with it in accordance with paragraph (2)(b).
History for Provision '5 Termination of appointment of SRS operator'.
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pr5-.
13/01/2003
Formal Consolidation
13 January 2003
SL
30/2003
Compare versionsDiff

01/01/2004
Informal Consolidation
19 April 2004
Amended
S 207/2004

01/10/2008
Informal Consolidation
15 September 2010
Amended
S 521/2010

21/04/2011
Informal Consolidation
01 January 2011
Amended
S 209/2011