(1)Any person who becomes a nominee by virtue of the provisions of section 109-A, upon the production of such evidence as may be required by the Board and subject as hereinafter provided, elect, either-(a)to be registered himself as holder of the share or debenture, as the case may be; or(b)to make such transfer of the share or debenture, as the case may be, as the deceased shareholder or debenture holder, as the case may be, could have made.
