(1) A depositor may, withdraw a security standing to the credit of the depositor's securities account on application to the depository.

(2) Where an application for the withdrawal of a deposited security is made and the appropriate notification and withdrawal documents are received by the issuer or its share registry in accordance with the rules of the central securities depository, the issuer or its share registry, shall complete and deliver to the central securities depository certificates in connection with the transfer of the securities within 14 days after the date of receipt of the withdrawal documents to be forwarded to the participant.

(3) Despite subsection (1) withdrawals are not allowed for government securities