Section 15: Transfer of cellular assets

15. Transfer of cellular assets (1) It shall be lawful for the cellular assets attributable to a cell to be transferred in the ordinary course of the company’s business, through payments, investments or otherwise to another person, including to another cell, wherever resident or incorporated, whether or not that person is a protected cell company. (2) A transfer of cellular assets attributable to a cell shall not of itself entitle creditors of that company to have recourse to the assets of the person to whom the cellular assets were transferred except where the transfer was made by fraud or with intent to defraud creditors of the particular cell making the transfer. (3) This section is without prejudice to any power of a protected cell company lawfully to make payments or transfers from the cellular assets attributable to any cell to a person entitled to have recourse to those cellular assets.