Under Clauses 18 - 20 of the contract:
can each terminate the arrangement at any time by giving notice
in writing to the other.
Termination has effect for any accounting period of the participating companies for which the first quarterly instalment payment has not yet fallen due.
In relation to non-quarterly instalment companies, termination has effect in relation to any accounting period for which the first instalment would not yet have fallen due if it were a large company.
If the notification is given later than that, the group payment
arrangement remains in force for 2005 and ceases with effect from
Termination under Clause 18 is primarily a protection for the group, and not a mechanism the Revenue intends to invoke routinely.