Transfer of negotiable instruments and shares

(1) Where the execution of a document, or the endorsement of the party in whose name a negotiable instrument or share in a Corporation is standing, is required to transfer such negotiable instrument or share, the Deputy Commissioner, or such officer as he may appoint in this behalf, may execute such document or make such endorsement as may be necessary and such execution or endorsement shall have the same effect as an execution or endorsement by the party. (2) Such execution or endorsement may be in the following form, namely: AB, by CD, Deputy Commissioner of the district of in a proceeding under the Bengal Public Demands Recovery Act, 1913 (Ben. Act III of 1913), against AB. (3) Until the transfer of such negotiable instrument or share, the Certificate Officer may, by order, appoint some person to receive any interest or dividend due thereon, and to sign a receipt for the same; and any receipt so signed shall be as valid and effectual for all purposes as if the same had been signed by the party himself.