Section 14 in The U.P. State Electricity Board (Issue of Bonds) Rules, 1964
14. Transfer on death.
- (i) The interest of a deceased holder of any bond shall be transferable by his executors or administrators.(ii)The Board or the Registrar may refuse to allow any executors or administrators to transfer any bond until the probate of the will or the letters of administration to the estate of the deceased or a succession certificate under the Indian Succession Act, 1925 (Act No. XXXIX of 1925) has or have been left with the Registrar for registration and may require all the executors or the administrators to join in the transfer.
