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Product Lifecycle Responsibility Act 2025
35Lapsing of financial assurance
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35 Lapsing of financial assurance
35 Lapsing of financial assurance
The requirement to provide financial assurance lapses and no longer binds the person who lodged the action plan 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 person written notice of the lapsing of the financial assurance.