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Plastic Reduction and Circular Economy Act 2021
31Lapsing of financial assurance
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31 Lapsing of financial assurance
31 Lapsing of financial assurance
The requirement to provide financial assurance lapses and no longer binds the brand owner if the regulator—
(a) is satisfied the action for which the financial assurance was required has been satisfactorily carried out, and
(b) has given the brand owner written notice of the lapsing of the financial assurance.