Intellectual Property Act, No. 36 of 2003 43 48. The provisions of subsection (1) of section 47 shall— (1) extend only to acts done for industrial or commercial purposes ; Limitation of registered owner’s rights. (2) not preclude third parties from performing any of the acts referred to therein in respect of a product embodying the registered industrial design after the said product has been lawfully manufactured, imported, offered for sale, sold, used or stocked in Sri Lanka. CHAPTER VIII ASSIGNMENT AND TRANSMISSION OF APPLICATIONS FOR REGISTRATIONS REGISTRATION OF INDUSTRIAL DESIGNS AND OF THE SAME 49. (1) An application for registration or the registration of an industrial design may be assigned or transmitted and such assignment or transmission shall be in writing signed by or on behalf of the contracting parties. Assignment and transmission of applications and registrations. (2) Any person becoming entitled by assignment or by transmission to an application for registration or the registration of an industrial design may apply to the DirectorGeneral in the prescribed manner along within the prescribed fee to have such assignment or transmission recorded in the register. (3) No such assignment or transmission shall be recorded in the register unless the prescribed fee has been paid to the Director-General. (4) No such assignment or transmission shall have effect against third parties unless so recorded in the register. 50. In the absence of any agreement to the contrary between the parties, joint owners of an application for registration or the registration of an industrial design may, separately, assign or transmit their rights in the application Joint ownership of applications and registration.