(1) A utility may surrender its licence by giving written notice of surrender to ICRC.
Note Under s 52, the ICRC must prepare a notice of a surrender of a licence. The notice is a notifiable instrument.
(2) The surrender takes effect—
(a) 90 days after the day the written notice is given to ICRC; or
(b) if ICRC accepts an earlier surrender—on the day ICRC gives written notice of the acceptance to the utility.