(1) Whenever the period of cover under an approved policy of insurance or an approved combined policy and guarantee is terminated or suspended by any means before its expiration by effluxion of time, the insured shall, within seven days after such termination or suspension deliver to the vehicle insurer by whom such policy or policy and guarantee was issued the latest certificate of insurance given by such vehicle insurer in respect of such policy or policy and guarantee.
(2) Whenever the period of cover under an approved guarantee is terminated or suspended by any means before its expiration by effluxion of time, the principal debtor shall, within seven days after such termination or suspension, deliver to the vehicle insurer or vehicle guarantor by whom such approved guarantee was issued the latest certificate of guarantee given by such vehicle insurer or vehicle guarantor in respect of such approved guarantee.
(3) Every person who is required by this section to deliver a certif