This important part in the electrical system carries out one basic task, to allow the correct current to reach the correct electrical items by earthing the battery correctly. If this is not working, or has broken down - and they do go brittle and degrade over time - then renewal is the best option!
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Replacing this part would normally be carried out during the course of a general electrical overhaul. For all your electrical consumables, such as ignition coils, spark-plugs, condenser assemblies, regulator/rectifiers and much more, check out the schematic and 'Product Gallery' for your model.