The Renegade is a bolt-action rifle. The upper portion that contains the action and the barrel is the receiver and the bottom portion that contains the trigger and magwell is the bottom metal. The Receiver has the model and make markings along with the serial number making it the "firearm" according to the Firearms Act. In this way, it is the Receiver that has the NR FRT. Therefore, any machining of the Recevier to make it function in a manner not consistent with the current FRT, will make the converted Renegade a new firearm and thus will require a new FRT before it can be made and sold legally.
Furthermore, the Renegade accepts magazines that were orignally designed to hold more than the legal capacity of 5 rounds. If the Renegade were to be machined into a new semi-auto firearm, this design and production would take place after December 15, 2023 and thus be in breach of the magazines restriictions found in Bill C-21.