(1) Subject to subsection (1) of section 11, the Registrar may upon the application of any person and upon payment of the prescribed fee reserve for a period of 90 days a name for future adoption by an international general partnership pursuant to this Act.
(2) Once having reserved a name pursuant to subsection (1), the same applicant may upon payment of the prescribed fee again reserve the same name for successive 90 day periods.
(3) The right to the exclusive use of a name reserved pursuant to this section may be transferred to any other person by paying the prescribed fee and by filing with the Registrar a notice of the transfer executed by the applicant for whom the name was reserved specifying the name to be transferred and the name and address of the transferee.