23Transfer of profiles—Act, sub 43(1)

23  Transfer of profiles—Act, sub 43(1)

 (1) The Regulator may transfer a registered profile to a registered person (the profile receiver) under this rule:

 (a) on written application to the Regulator by a registered person; or

 (b) on the Regulator’s own initiative.

 (2) If a person applies to transfer a registered profile under paragraph (1)(a), the Regulator may:

 (a) by notice in writing, require the person to give the Regulator further information in relation to the application as the Regulator requires; and

 (b) if the applicant does not comply with a requirement in a notice given under paragraph (a)—refuse to consider the application further.

 (3) If the Regulator receives an application under paragraph (1)(a), the Regulator must decide to:

 (a) transfer the profile; or

 (b) refuse to transfer the profile.

 (4) In deciding to transfer a registered profile, the Regulator must have regard to the following:

 (a) if a registered person has applied to transfer the profile under paragraph (1)(a)—whether the holder of the profile has consented to the transfer in writing;

 (b) if the Regulator is transferring the profile on the Regulator’s own initiative—whether it is practicable to seek consent to the transfer from the holder of the profile;

 (c) whether the Regulator would be satisfied that the requirements to register the profile would have been met if the profile receiver had applied to register the profile;

 (d) whether the profile is suspended;

 (e) whether there is an outstanding matter in relation to the registered profile;

 (f) whether the profile receiver has consented to the transfer in writing;

 (g) whether the profile receiver is suspended under section 18 of the Act;

 (h) any other matter the Regulator considers relevant.

outstanding matter, in relation to a registered profile, includes a requirement to do the following:

 (a) give information in accordance with section 138 of the Act;

 (b) comply with a notice given under section 125 or 127 of the Act.

 (c) comply with a reporting requirement in accordance with a condition imposed on the profile;

 (d) give the Regulator further information in relation to the profile in accordance with a request under section 31, 35 or 39 of the Act;

 (e) give the Regulator further information in relation to a certificate in accordance with a request under section 56A or 59A of the Act;

 (f) give the Regulator information or a declaration in accordance with section 61 of the Act;