The notional life is to do with getting new kit on fair wear and tear and how much you are charged if you lose it
FWT is a different concept where replacement can be issued before the notional life expires due to prolonged use or extenuating circumstances.
The older piece of equipment fails to exist once its has been replaced. The record of issue is continous but its not a one for one swap.You don't need to turn up with the old one to get a knew one all though in the case of FWT it maybe required to prove that the kit is no longer fit for purpose.
On a kit inspection you wouldn't be expected to pull out a combat jacket from 1985 just because it was issued to you and has been replaced or outmoded every 3 years since.
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