Section 11(2) in National Savings Certificates (VIII Issue) Rules, 1989
(2)An authorised Postmaster as referred in sub-rule (1) shall give his consent to the transfer of a certificate only if the following conditions are satisfied, namely:-(a)the transferee is eligible under these rules to purchase certificates;(b)the transfer is made after the expiry of a period of at least one year from the date of the certificate or where the transfer is sought before the expiry of such period, the transfer falls under any of the following categories, namely:-(i)transfer to a near relative out of natural love and affection;Explanation. - For the purposes of this rule, "near relative" means husband, wife, lineal ascendent or descendent, brother or sister.(ii)transfer in the name of the heir of the deceased holder;(iii)transfer from a holder to a court of law or to any other person under the orders of the court of law;(iv)transfer in accordance with Rule 12; (Pledging)(v)transfer in the name of survivor in the event of death of one of the joint holders.(c)An application for transfer is made in the prescribed form and is signed by the holder or holders of the certificate;provided that in the case of a Joint 'A' Type Certificate or a Joint 'B' Type Certificate, the application may be signed by one of the holders, if the other is dead.
