75Duty credit transferable

#### 75 Duty credit transferable (1) A person entered in the ACIS ledger as a person who owns duty credit may transfer that credit to another person. (2) The parties to the transfer of duty credit must notify the Secretary of the transfer by lodging a notification with the Secretary in a manner specified in the regulations. (3) The notification must: (a) be in writing; and (b) be in an approved form; and (c) contain such information as the form requires; and (d) be signed in the manner indicated in the form. (4) Transferred duty credit is not available to the transferee until the Secretary has adjusted the ledger so as to: (a) remove that credit from the duty credit balance available to the transferor; and (b) enter that credit as duty credit available to the transferee. (5) If duty credit is transferred and the ledger amended accordingly, that transfer is not affected if the Secretary subsequently determines that the transferor was not entitled to all or any of the credit that has been so transferred.