(1) The issuer in relation to a Division 4 financial product must not register, or otherwise give effect to, an ASTC-regulated transfer of the Division 4 financial product unless the transfer is a proper ASTC transfer.
(2) Subregulation (1) has effect despite anything in:
(a) the issuer's constitution; or
(b) a deed relating to debentures; or
(c) the constitution of a registered scheme; or
(d) a deed relating to interests.