Article 19 Transfer of SAF certificates
A transfer of a SAF certificate may be made between any persons who are account holders.
A transfer is not effective unless—
the transferor notifies the Administrator of the following details of the transfer—
the name and account number of the account holder to which the certificate is to be transferred,
the date of the transfer (“the notified date”), and
the obligation period for which the certificate was issued;
the transferor so notifies the Administrator—
through a website of the Administrator, or
in another manner, in a case where the Administrator determines that it is appropriate to allow notification in that manner;
the transferor so notifies the Administrator—
on the date of the transfer, or
before the date of the transfer, within the period of one month ending immediately before the date of the transfer;
the transfer is to one transferee;
the SAF certificate is held to the credit of the transferor’s account at the date and time of the transfer, and
the Administrator is satisfied that, at the date of the transfer, there is no reason to consider the revocation of the certificate under article 20.
Where—
a transfer relates to some (but not all) of the SAF certificates held by a transferor on the date of the transfer, and
the SAF certificates held by the transferor on that date were not all issued at the same date and time,
it is to be presumed, unless the transferor notifies the Administrator otherwise at the same time as notifying the Administrator of the details of the transfer in accordance with paragraph (2)(a), that the transfer relates to the certificates which were issued at the earlier dates and times.
In the event of there being an insufficient number of certificates held to the credit of a transferor’s account on the notified date to transfer certificates to two or more transferees, the Administrator must give priority to the transfer which was first notified to the Administrator.
For the purposes of this Order, the Administrator transfers a SAF certificate from one account holder (“the transferor”) to another account holder (“the transferee”) by recording a debit of a SAF certificate in the transferor’s SAF account and a credit of a SAF certificate in the SAF account of the transferee.