45Request to transfer units

45 Request to transfer units

(1) A person (the transferor) may request that the Secretary transfer one or more units held in the transferor’s registry account to the registry account of another person (the transferee). (2) The request must be in writing and meet the requirements (if any) prescribed by the rules. (3) Within 15 business days after the request is made, the Secretary must: (a) remove the entry for the units covered by the request from the transferor’s registry account; and (b) make an entry for those units in the transferee’s registry account. (4) This section has effect subject to section 46 (Secretary may refuse to extinguish or transfer units).