Restrictions on transfer of rights of foreman

Restrictions on transfer of rights of foreman : -

1. (1) No transfer of the rights of a foreman to receive subscriptions from prized subscribers shall be made without the previous sanction in writing of the Registrar.
2. (2) Any such transfer of the rights of a foreman to receive subscriptions from a prized subscriber shall, orr application by the subscriber and if it is likely to affect prejudicially the interest of any non-prized subscriber or unpaid prized subscriber, be set aside by such officer as may be empowered by the Government in this behalf.
3. (3) When under sub-section (2), a transfer is disputed by a subscriber, the burden of proving that the foreman was in insolvent circumstances at the time of the transfer and that the transfer is not likely to affect prejudicially the interests of any such subscriber is upon the transferee.