The approval notice is just the request approval of the restricted firearms transfer from transferor to transferee. This allows the seller to ship the restricted firearm to the buyer or give it to them to take possession of.
The actual registration certificate is a different piece of paper that is issued to the new owner. You are required to have that with you when transporting the restricted firearm (in accordance with your ATT, to and from the Range you specified to the CFC during the transfer request process), in addition to your PAL.
From the Website:
Restricted and Prohibited
The CFP must speak with both the transferor and the transferee for restricted and prohibited firearms. However, both parties do not need to be available at the same time. Follow the steps below.
Make sure the firearm is verified.
Call the CFP with the following information:
If you are an individual transferor you will need to provide your full name, address and firearms licence number, and the transferee's full name and PAL number
If you are a business transferor you will need to provide your business licence and identification number, and the transferee's full name, address and PAL number
If you are an individual transferee you will need to provide your PAL number, full name and address, and the transferor's full name and firearms licence number
If you are a business transferee you will need to provide your business licence and identification number, and the transferor's full name, address and firearms licence number
If you initiate the transfer you will need to provide the registration certificate number and confirm the firearm information (make, model, serial number, firearms identification number (FIN), etc.)
When you call the CFP, you will get a reference number. Make sure both the transferor and the transferee have that reference number.
The CFO for the jurisdiction receives the request and will review the transfer to make sure that the transferee is acquiring the restricted firearm or prohibited handgun for one of the permitted purposes (Firearms Act, Section 28).
The transferee will need to get an Authorization to Transport (ATT) to transport the restricted firearm to its new location. There is no fee for an ATT. Call the CFP at 1-800-731-4000 or submit form RCMP 5490.
Both the transferor and the transferee will receive a confirmation notice to let them know the transfer is complete. After a transfer is approved the new registration certificate will be mailed to the new owner within a few weeks.