Section 15 in The Orissa State Financial Corporation General Regulations, 2003
15. Transfer of Share.
- (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 share 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 share 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-regulation (i) & (ii) of regulation 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, the Board shall unless refuses to register the transfer under Sub-section (3) of Section 3 cause the transfer to be registered and the transfer fees shall be determined by the Managing Director with due approval of the Board.
