Section 15 in The Rajasthan Financial Corporation General Regulations, 2002
15. Transfer of Shares.
- (i) Subject to the restrictions contained in the Act and in these Regulations, shares except redeemable preference shares shall be transferable, but every transfer shall be in writing and in the form prescribed under the companies act, 1956 for transfer of shares.(ii)the instrument of transfer of shares shall be signed by the transferor and the transferee or any persons duly authorised to do so on their behalf and shall be submitted to the Board duly stamped under the Indian Stamp Act, 1899, along with the share certificate and the transferor shall be deemed to remain the holder of such shares until the name of the transferee is entered in the share register. Each signature to such transfer shall be duly attested by one witness who shall sign giving his address and occupation.(iii)The above provisions in Sub-Regulations (i) and (ii) of Regulation 15 shall also apply to transfer of debentures/bonds.(iv)Upon receipt by the Board of an instrument of transfer with a request to register the transfer along with fee as may be decided by the Managing Director from time to time with the approval of Board, the Board shall, unless it refuses to register the transfer under sub-section (3) of Section 5, cause the transfer to be registered.
