Approval of issue or disposal of shares and duty to notify changes

(1) No shares in a registrant shall be issued and no issued shares shall be transferred, changed or disposed of in any manner without the prior written approval of the Minister. (2) Without prejudice to the foregoing, any registrant proposing to make any change in the shareholdings in a registrant, or in the members of a registrant, or in the persons who are beneficial but not registered owners of the shares in a registrant, or in the nature of business being written, shall give notice in writing to the Supervisor, within thirty days of such change, and include in such notice details of the new shareholdings, members, persons, or businesses, as the case may be.