Power of one or more joint holders to grant receipts

Notwithstanding anything contained in section 45 of the [Indian Contract Act, 1872, where two or more persons are joint holders of any debenture or stock certificate issued under the provisions of this Act, any one of those persons may give as effectual receipt for any interest or dividend payable in respect of such debenture or stock certificate, unless notice to the contrary has been given to the Board by any other of those persons.]