(1)An approved regulator may, with the prior agreement of the Scottish Ministers, surrender the authorisation given to it under section 10.
(2)Schedule 7 (to which subsection (1) is subject) makes provision concerning the surrender of such an authorisation.
(3)An approved regulator must take all reasonable steps to ensure that the effective regulation of its licensed providers is not interrupted by the surrender of such an authorisation.
(4)The surrender of an authorisation by virtue of subsection (1) has the effect of terminating the associated approval (of the approved regulator) given under section 7.