Regulation 20

the Board permits a person to join the Scheme under section 29(3) of the Act; and

the person then applies to the Board to opt out from the Scheme,the Board must —

if the application is received by the Board before the date of issue of the person’s insurance cover under the Scheme or within one month (or a longer period permitted by the Board) after that date of issue — cancel the insurance cover from its date of issue; or

in any other case — terminate the insurance cover with effect from the date of receipt of the application by the Board.