76Transfer of advances

76 Transfer of advances

(1) Subject to the next succeeding subregulation, an advance or portion of an advance, other than an advance referred to in paragraph (g), (h) or (i) of subregulation (1) of regulation 74 of these Regulations, may, with the approval of the Authorizing Officer, be transferred to a person other than the person to whom the advance was made.

(2) An advance, or portion of an advance, shall not be transferred under the last preceding subregulation to a person other than a person to whom the advance could have been made.

(3) For the purposes of subregulations (3) and (4) of regulation 74 and regulations 78, 79 and 80 of these Regulations, a person to whom an advance, or portion of an advance, is transferred under subregulation (1) of this regulation shall be deemed to be the person to whom that advance, or that portion of an advance, as the case may be, was made.