I'm sure Stephen will elaborate, but (quite incredibly) one of the threads on the Nominet member forum has led Nominet staff to admitting that contacting the support team with an instruction to cancel domains on the basis of clause 34 will result in a refund.
Portfolio holders might well wish to explore this!
If you would like to invoke your refund right, you should please contact Nominet customer services before 1 March 2016. We will need a clear irrevocable instruction from you, plus details of the domains that you want to cancel.
Portfolio holders might well wish to explore this!