(1) A licensed self-insurer may surrender its self-insurer licence by giving written notice (a surrender notice ) of the surrender to the regulator.
(2) The surrender notice must be accompanied by—
(a) the self-insurer licence; or
(b) if the self-insurer licence has been lost, stolen or destroyed—a statement verifying that the licence has been lost, stolen or destroyed.
(3) A self-insurer licence is taken to be cancelled if the licence is surrendered under this section.