Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The holder of a certification and another person (the transferee ) may jointly apply to the Regulator for the certification to be transferred from the holder of the certification to the transferee.
(2) The application must be in writing, and must contain:
(a) such information as is prescribed by the regulations (if any); and
(b) such information as is specified in writing by the Regulator.
(3) The Regulator must not transfer the certification unless the Regulator is satisfied that, if the certification is transferred, any conditions to which the certification is subject will continue to be met.
(4) The Regulator must give written notice of his or her decision on the application to the holder of the certification and the transferee.
(5) If the Regulator decides to transfer the certification:
(a) the transfer takes effect on the date specified in the notice; and
(b) the certification continues in force; and
(c) the certification is subject to the same conditions as those in force immediately before the transfer.