37. Transferable security may be transferred only between 2 participants in the book based system in the cases and on the conditions set out in this Regulation. A recipient of a transfer who is not a participant must become one.
A transfer may, however, be made between the participant’s accounts.
O.C. 1129-2008, s. 37; 767-2020O.C. 767-2020, s. 141.