37. (1) A licence holder shall not transfer the licence or alienate his or her rights or obligations under the licence, or transfer or alienate any interest in it to a third party without the prior written consent of the Regulator.
(2) A licence holder may not use the licence as a form of security without the prior written consent of the Regulator and no other party shall have any claim on the licence.
(3) Any instrument executed in contravention of this section shall be void and have no effect.
