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The Owner shall notify the Trustee Board of any change of ownership of the Section.
No property may be transferred without a valid clearance certificate issued by the MBC
The MBC shall refuse the issue of a clearance certificate upon the transfer of a Section unless all levies, penalties, special levies due and payable in respect of such Section have been paid up to the date reflected in such clearance certificate.
Should the Owner be—
(a) a company, it shall notify the MBC of any change of its directors, or shareholders, 14 (fourteen) days prior to any such intended change.
(b) a close corporation, it shall notify the MBC of any change of its members 14 (fourteen) days prior to any such intended change.
(c) a trust, it shall notify the MBC of any change of its directors, 14 (fourteen) days prior to such intended change. In the instances of sub-rule (4)(a) to (c) a clearance certificate must also be issued.
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