section 33
Form, signature, exchange, transfer and affect of debentures
The Madras Metropolitan Water Supply and Sewerage Act, 1978Infrastructure197898 sections8 chapters
Chapter V FINANCE, ACCOUNTS AND AUDIT
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 approval of the Government, determine.
- (2) All debentures shall be signed by the Managing Director of the Board.
- (3) The holder of any debenture in any form specified under sub-section
- (1) may obtain in exchange therefor 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; and such signature may be engraved, lithographed or impressed by any mechanical process.
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