Hi jt,
As I recall, it is the top shroud that nests onto the "clip" that retains the springs to the rod of the shock absorber. The clip is sort of a giant snap ring affair, but has a shoulder that the top shroud rides on, transferring spring pressure to itself, then to the giant snap ring, then to the shoulder on the shock absorber rod.
Further, it is the shroud that keeps the spring vertically aligned under the retainer "clip."
Some retainers are indeed a giant snap ring, others are like a circle split in half that have a shoulder all around its circumference. The circular ones are split in half so that you may install and remove them once the spring is compressed.
It could be removed, but you would have to fabricate something to take its place for retaining purposes.
~ ~ ~ jaknight ~ ~ ~