Transfer certificate or Registration needed for transport?

[IJ22]

The NoT is not a registration certificate.

The question is whether the NoT, which has the registration certificate number on it, is proof that you are the "holder" of a registration certificate.
Since in order to have a registration certificate number you must have a registration certificate in the CFRO database. The number is proof of, and the index to, a valid registration certificate for you and that gun (thus you are the holder in that sense), you just don't have it in your hand yet (which is holder in another sense).

The next question is if you can convince a cop of that, and then if you can convince a court of that.
It's probably cheaper & easier to wait.

Fair enough, that's way too esoteric for me. Let me rephrase thusly: All the powers vested in the little piece of paper titled "Registration Certificate" are also vested in the little piece of paper called the "Notice of Transfer (Buyer)" .

I did not know that I will be getting or need a new RPAL as well. My RPAL says standard conditions apply and on the back it says possession restricted and non-restricted. No other conditions are there.
Does that mean I now have to wait for a new RPAL as well?

You won't need to wait for your new RPAL, but DO call the CFO to confirm that the conditions have been added to your license. That should have happened automatically when your new gun was registered to you but it's a good idea to make sure. Your new license card will say "Special conditions are attached" with the paper containing the added details labradort described.

I will not be taking the chance and will wait for my registration certificate to arrive before going to Range.

A prudent choice. Unfortunate, but prudent.

Merry Christmas everyone!!