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Article 47 Transfers on the Participant's Instruction

47.1 The following transfers, movements and entries without the corresponding funds shall be effected in the Central Securities Registry upon the Participant's instruction to the CSU, on the basis of a transfer order issued by the holder of the securities:
47.1.1 Transfers of securities between accounts of the securities holder, opened by the same or different Participant (movements);
47.1.2 Transfers of securities to the new securities holder's account, opened by the same or different Participant (transfers);
47.1.3 Entries in relation to pledges and other third party rights on securities:
47.1.3.1 entry of pledge;
47.1.3.2 release of pledge
47.1.3.3 transfer of securities subject to pledge execution;
47.1.3.4 entries in relation to any other third party rights on securities.
47.1.4 Transfers in accordance with Article (36) of the BSE's Internal Regulations and Resolution No. 31/1988, as amended by Resolution No. 8/1993.
47.2 Prior to the effect of any transfer, movement, or entry into the Central Securities Registry on behalf of his clients, the Participant shall make adequate verification of the client's identity and the validity of the respected transfer order.