Well, obviously there are two negatives in the sentence. But, at least I am of the opinion that it can't be contracted into a positive- "Not X is Not Required" means a very different thing to "X is Not Required", but I would like to know what grammatical mechanisms are in play here!
(I was actually sent here after a disagreement with somebody on this topic led them to sarcastically say "go ahead and bring it to english.stackexchange" - seemed like a good suggestion though!