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4. 
6. Current rule

The Orders and Rules of Racing

PART 3 - OWNERS - (E)27 to (E)92

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38. Cancellation of registration of Recognised Stud Company or nominee

38.1 The Authority may at any time direct that the registration of a Recognised Stud Company shall immediately cease to be valid

38.1.1 in accordance with Rule 30.2, or
38.1.2 in such other circumstances as it considers appropriate.

38.2 The registration of a nominee for a Recognised Stud Company shall immediately cease to be valid if

38.2.1 the Authority gives a direction to that effect, or
38.2.2 Paragraph 38.3 applies.

38.3 A Recognised Stud Company may terminate the appointment of a registered nominee, but only if

38.3.1 the company still has at least one registered nominee or it appoints a new nominee in accordance with Rule 36, and
38.3.2 that nominee agrees to meet all liabilities

38.3.2.1 that were incurred in respect of the horse by the nominee whose appointment is being cancelled, and
38.3.2.2 that are outstanding at the time of the cancellation.

38.4 Where the registration of a Recognised Stud Company ceases to be valid in accordance with Rule 38 it will no longer be possible to re-register as a Recognised Stud Company, rather the registration must be made as a Company in accordance with Rule 39.

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