Form, signature, exchange, transfer and effect of debentures

Infrastructure197676 sections11 chapters

Chapter VIII Chapter VIII

Statutory text

(1) Whenever money is borrowed by the Board on debentures, the debentures shall be in such form as the Board may, with the previous sanction of the Government, specify.
(2) All debentures shall be signed by the Managing Director or Secretary or by any one of the ex officio (directors) of the Board.
(3) The holder of any debenture in any debenture in any form specified under sub sections
(1) may obtain in exchange therefore a debenture in any other form specified in the manner provided in sub-section
(1) and upon such terms as the Board may determine.
(4) Every debenture issued by the Board shall be transferable by endorsement, unless some other mode of transfer is specified therein.
(5) All coupons attached to debentures issued by the Board shall bear the signature of the (Managing Director.)

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