Pretty much correct!
Should be six strand brass wire, with a free running eyelet and mustn't be self-locking, so that when the critter stops pulling against it it freely relieves the presure on the animal's neck. (The idea is to contain the animal, not strangle it to death!) Ideally should checked every 12hrs, typically at dawn / dusk, but nothing to say it can't be checked more often - although you don't want to scare off the game by visiting too much!
