The following rules apply when sending an MT 304:
The MT 304 is used to send a new instruction, but it can also be used to amend or cancel a previously sent MT 304.
When cancelling a previously sent message using MT 304:
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be cancelled
the cancellation message must contain a copy of at least the mandatory fields of the original message.
To amend a previously sent message:
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be amended
the amendment message must contain both the unchanged and the changed/new fields of the original message
the amendment message replaces the original message.
The code /NETS/ in fields 53J, 56J and 57J must not be used in Sequence E Net Amount to be Settled.
Should a registered user receive an MT 304 without having a bilateral agreement with the fund manager, the Receiver ought to query the message according to normal banking practice.