(1) A company may withdraw an election made by or in respect of it under section 790X.
(2) Withdrawal is achieved by giving notice of withdrawal to the registrar.
(3) The withdrawal takes effect when the notice is registered by the registrar.
(4) The effect of withdrawal is that the company's obligation under Chapter 3 to maintain a PSC register applies from then on with respect to the period going forward.
(5) This means that, when the withdrawal takes effect -
(a) the company must enter in its PSC register all the information that is required to be contained in that register in respect of matters that are current as at that time,
(b) the company must also retain in its register all the information that it was required under section 790Z(3)(a) to keep in a historic register while the election was in force, but
(c) the company is not required to enter in its register information relating to the period when the election was in force that is no longer current.
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