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Following consultations with industry representatives, the Bank advises that the Governor has granted PTCs an exemption from section 6 (1) of the BTCRA, which requires them to seek the prior approval of the Governor for the transfer and disposal of shares of the company, subject however, to the following condition:
That the Registered Representative shall at all times, maintain a current share register of all shareholders of the Private Trust Company or companies for which he serves as Registered Representative.
