(1) A cover-assets monitor may resign by notice in writing given to the Authority.
(2) The cover-assets monitor is required to include in the notice a statement of the reasons for the resignation.
(3) A notice of resignation of a cover-assets monitor takes effect at the end of 30 days, or of such longer period as is specified in the notice, after it is given to the Authority or, if the Authority agrees to the resignation taking effect at the end of a shorter period, at the end of that shorter period.