Form, signature, exchange, transfer and effect of debentures

Form, signature, exchange, transfer and effect of debentures

1. (1) . Whenever money is borrowed by the Board on debentures, the debentures shall be in such form as the Board may with the previous approval of the Government, specify
2. (2) . All debentures shall be signed by the Managing Director of the Board.
3. (3) . The holder of any debenture in any form specified under sub-section
4. (1) may obtain in exchange there for a debenture in any other form specified in the manner provided in sub-section
5. (1) and upon such terms as the Board may determine.
6. (4) . Every debenture issued by the Board shall be transferable by endorsement, unless some other mode of transfer is specified therein.
7. (5) .