A punch assembly (100, 800) comprising: a punch holder (15, 85) including a first end and a second end; a punch tip including a coupling portion and a working portion (184, 187A); at least one retain-and-release member coupled to the punch holder (15, 85), each of the at least one retain-and-release member including a retaining portion adapted to engage the coupling portion of the punch tip, such that the working portion (184, 187A) of the punch tip extends longitudinally from the first end, in fixed relation to the punch holder, and an actuation interface adapted to receive a force for disengaging the retaining portion from the coupling portion of the punch tip; and a punch guide sidewall including a first end and a second end, the punch guide sidewall extending longitudinally from the first end of the sidewall to the second end of the sidewall, and about a central longitudinal axis of the assembly (100, 800) to form a guide bore, the guide bore adapted to slideably engage the punch holder (15, 85) and the engaged punch tip, the first end of the sidewall extending around at least a portion of a perimeter of a guide bore opening through which the engaged punch tip is moved for punching, and the sidewall including at least one aperture extending therethrough, each of the at least one aperture being aligned with the actuation interface of the corresponding one of the at least one retain-and-release member, to provide access for applying the force to the actuation interface, when the guide bore slidably engages the punch holder; characterized in that the at least one retain-and-release member is pivotably coupled to the punch holder (15, 85) and further includes a pivot shaft extending between the retaining portion and the actuation interface, such that the force received by the actuation interface, to disengage the retaining portion, rotates the pivot shaft. a punch holder (15, 85) including a first end and a second end; a punch tip including a coupling portion and a working portion (184, 187A); at least one retain-and-release member coupled to the punch holder (15, 85), each of the at least one retain-and-release member including a retaining portion adapted to engage the coupling portion of the punch tip, such that the working portion (184, 187A) of the punch tip extends longitudinally from the first end, in fixed relation to the punch holder, and an actuation interface adapted to receive a force for disengaging the retaining portion from the coupling portion of the punch tip; and a punch guide sidewall including a first end and a second end, the punch guide sidewall extending longitudinally from the first end of the sidewall to the second end of the sidewall, and about a central longitudinal axis of the assembly (100, 800) to form a guide bore, the guide bore adapted to slideably engage the punch holder (15, 85) and the engaged punch tip, the first end of the sidewall extending around at least a portion of a perimeter of a guide bore opening through which the engaged punch tip is moved for punching, and the sidewall including at least one aperture extending therethrough, each of the at least one aperture being aligned with the actuation interface of the corresponding one of the at least one retain-and-release member, to provide access for applying the force to the actuation interface, when the guide bore slidably engages the punch holder; characterized in that the at least one retain-and-release member is pivotably coupled to the punch holder (15, 85) and further includes a pivot shaft extending between the retaining portion and the actuation interface, such that the force received by the actuation interface, to disengage the retaining portion, rotates the pivot shaft.