I would check with Zenith, I recall that management said they went to great lengths to make sure that Zenith shares would be eligible for registered accounts. I think that was part and parcel with being a private but widely held reporting issuer. I have Zenith in both my TFSA and my RRSP due to the spin off and so far have not had an issue but have never tried to transfer any in kind fom a cash account to a registered account.