1. The Depository shall administer operations for securities transfer whereby it shall be possible to transfer all or part of the securities from one securities account administered by one Depository member into an account administered by another member in case of merger, consolidation and other forms of transformation.

2. The Central Depository shall administer operations for securities transfer by order of its members and Bulgarian Stock Exchange on the occasion of securities transactions.

3. The Central Depository shall administer operations for securities transfer by order of registration agents.

4. Securities transfer under pp. 1 – 3 shall be performed in compliance with the Enclosures to these Rules and Regulations.