28.—(1) Any person who is before 1st May 1990 registered as the owner of any motor vehicle referred to in rules 26 and 27 shall be exempt from liability to pay a quota premium in respect of the certificate of entitlement deemed under rules 26 and 27 to have been issued for that motor vehicle.
(2) A certificate of entitlement that is deemed to have been issued for any motor vehicle under these Rules shall not have any residual value upon its cancellation under rule 20, and “residual value” shall have the same meaning as in rule 20(6).