A person must not include a participant's identification code in a document that may be used to effect a proper ASTC transfer unless:
(a) the person:
(i) is the participant; or
(ii) is authorised so to include the identification code by the participant; and
(i) the identification code is so included as the identification code of the participant effecting the transfer; and
(ii) the participant is not the transferor;
the participant is, apart from the effect of regulation 7.11.26, authorised by the transferor to effect the transfer.