Regulation 5 Transfer of loan instruments

The rights and obligations under any loan instrument issued in respect of a loan, other than an instrument which provides that the rights and obligations are not transferable or are only transferable by or with the agreement of the authority by or to which the instrument was issued, shall only be transferable by instrument in writing in accordance with the Stock Transfer Act 1963^f1 delivered to the registrar.

Any instrument delivered to the registrar in accordance with paragraph (1) above may be destroyed after a period of thirty years beginning on the date on which particulars are entered in the register in respect of the transfer.