Common use of Conditions for Transfer Clause in Contracts

Conditions for Transfer. The Trustee will advise any subsequent transferee in writing that the amount transferred must be administered as a pension benefit under the Act and Regulation and will not permit any subsequent transfer of any amount held under this Account unless: a) the transfer would be permitted under the Act and Regulation; and b) the subsequent transferee agrees to administer the amount transferred as a pension benefit in accordance with the Act and Regulation.

Conditions for Transfer. The Trustee will advise any subsequent transferee in writing that the amount transferred must be administered as a pension benefit under the Act and Regulation and will not permit any subsequent transfer of any amount held under this Account unless: a) the transfer would be permitted under the Act and Regulation; and b) the subsequent transferee agrees to administer the amount transferred as a pension benefit in accordance with the Act and Regulation.