The revocation can only be made by the stipulator or, after his death, by his heirs. The latter may only do so after the expiry of a period of three months from the day on which they gave the beneficiary formal notice to accept it.
If it is not accompanied by the designation of a new beneficiary, the revocation benefits, as the case may be, the stipulator or his heirs.
The revocation takes effect as soon as the third party beneficiary or the promisor becomes aware of it.
Where it is made by will, it takes effect at the time of death.
The third party initially designated is deemed never to have benefited from the stipulation made for his or her benefit.