NFPA 20 does not tell you where to discharge the flow of the relief valve.
If you direct the discharge of the relief valve to an open discharge point of the same level or lower, the funtion of the relief valve will be much simpler (loose valuable water of course).
For Diesel units if your static suction pressure + churn pressure + 121%, will not damage your system, NFPA 20 2003 does not require relief valve. For electric units relief valves are not a code requirement, but could be suggested or neccesary.
The discharge of the relief valves back to an aboveground storage tank (of different pumps) shall not be dischargin to a common pipe. (See 5.18).
The idea of the code reffering the discharge cone deals with the possibility of observing the opening of the relief valve (to adjust pressure, to be aware of the lost water that could be used for fire fighting, etc.)
So a little observing window is provided for closed cones in order to allow to observe the openiong of the valve.
In case you discharge to a river and you can see and even ear the splash, you need nothing, but in case you discharge back to an aboveground water suction tank, you need to observe the flow (with a sight glass in the cone or other type a flow detector), you need independent pipes, and you need to be sure that the back pressure does not affect the capacity of the relief valve. And even more if you need to facilitate the maintenance of the valve you need more requirements.
In general it is recomended to discharge in the top of the tank, so in case of maintenance you only need to drain a portion of the discharge pipe.