Cap. 416 Art. 24Registration of transactions affecting a registered trademark.

(1) On application being made to the Comptroller by -

(a) a person claiming to be entitled to an interest in or under a registered trademark by virtue of a registrable transaction, or

(b) any other person claiming to be affected by such a transaction, the prescribed particulars of the transaction shall be entered in the register.

(2) The following are registrable transactions -

(a) an assignment of a registered trademark or any right in it;

(b) the grant of a licence under a registered trademark;

(c) the transfer of a registered trademark by testamentary disposition;

(d) an order of a Court or other competent authority transferring a registered trademark or any right in or under it.

(3) Until an application has been made for registration of the prescribed particulars of a registrable transaction -

(a) the transaction is ineffective as against a person acquiring in good faith a conflicting interest in the registered trademark, and

(b) a person claiming to be a licensee by virtue of the transaction shall not have the protection of article 28 or 29.

(4) Where a person becomes the proprietor or a licensee of a registered trademark by virtue of a registrable transaction, he shall not be entitled to damages or an account of profits in respect of any infringement of the registered trademark occurring after the date of the registrable transaction and before the prescribed particulars of the transaction are registered, unless:

(a) an application for registration of the prescribed particulars of the transaction is made before the end of the period of six months beginning with the date of the transaction, or

(5) The Minister may make regulations prescribing rules as to -

(a) amendment of registered particulars relating to a licence so as to reflect any alteration of the terms of the licence, and

(b) the removal of such particulars from the register -

(i) where it appears from the registered particulars that the licence was granted for a fixed period and that period has expired;

(ii) where no such period is indicated and, after such period as may be prescribed, and after the Comptroller has notified the parties of his intention to remove the particulars from the register and the parties have not indicated their agreement that such particulars should not be removed for such period as the parties shall have agreed and indicated to the Comptroller;

(c) the amendment or removal from the register of particulars relating to a security interest on the application of, or with the consent of, the person entitled to the benefit of that interest.