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7. Transfer of ownership of agency

7. Transfer of ownership of agency:

(1) A person interested to gettransferred the ownership of agency being operated by a registered agent  shall submit application having enclosed a deed of consent of such registered agent and that of the company giving such agency to the official prescribed in Rule 3. Transfer fee Twenty Five Rupees should have been enclosed with the application. Provided that application fee, however, shall not be levied.

(2) The applicant, in the case of rejection of transfer of ownership, shall be refunded the amount deposited for transfer fee.

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