(a) Subject to paragraph (c), a registered undertaking (other than a restricted membership undertaking) may, before the date on which it commences the carrying on of a health insurance business (in this section referred to as the 'commencement date'), serve a notice on the Authority stating that it does not wish-
(i) a requirement of a scheme to make a return or returns, in so far as the return or returns would relate to the period of 6 months beginning on the commencement date, or
(ii) the other provisions of a scheme in respect of the period of 36 months beginning on the commencement date, to apply to it.
(b) Where a registered undertaking serves a notice under and in accordance with paragraph (a), and the commencement date in respect of that undertaking falls not later than 3 months after the service by it of that notice, neither-
(i) a requirement of a scheme, to make a return or returns in so far as the return or returns would relate to the period of 6 months beginning on