119Transfer of approval in principle by Regulatory Authority

119 Transfer of approval in principle by Regulatory Authority

119 Transfer of approval in principle by Regulatory Authority

(1) The Regulatory Authority may transfer an approval in principle to another person if the Regulatory Authority becomes aware that the approval in principle holder has died or does not exist.

(2) On transferring an approval in principle, the Regulatory Authority must—

(a) amend the approval in principle to specify the name of the receiving approval in principle holder; and

(b) provide an amended copy of the approval in principle to the receiving approval in principle holder.