118Transfer of approval in principle

118 Transfer of approval in principle (1) The approval in principle holder (***transferring approval in principle holder***) may transfer the approval in principle to another person (***receiving approval in principle holder***). (2) A transfer takes effect on the day the Regulatory Authority receives a notice of transfer in accordance with subsection (3). (3) A notice of transfer must— (b) be signed by both the transferring approval in principle holder and the receiving approval in principle holder; and (4) As soon as practicable after receiving a notice of transfer, 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. New Sch. s. 119 inserted by No. 33/2023 s. 8.