As said the car will fail an MOT without the cat, you could swap it each time the car went for an mot but the cat and downpipe are one piece, this makes it a nightmare to swap over and sould be left to the pros! If you can afford to pay a garage each time then go for it.
Personnally i'd go for a 100/200 CEL cat, as these are hi-flow and will pass an mot, altho a they are quite expensive.
Cheers
Danny
Edit: Just realised you have a 1.6S, don't know what the downpipe cat setup is on that so could be different, sorry!!