Section 4(1) in Public Debt (Compensation Bonds) Rules, 1954
(1)[A bond in the Form referred to in rule 3,](a)it shall be transferable by endorsement and delivery like a promissory note payable to order:(b)no endorsement of a bond shall be valid unless made by the signature of the holder or his duly constituted attorney or representative inscribed on the back of the bond itself;(c)no writing on a bond is valid for the purpose of negotiation if such writing purports to transfer only a part of the amount denominated by the bond and(d)the treasury or sub-treasury, or any office of the bank or the Public Debt Office may decline to accept a bond, endorsed in blank for any purpose, unless the endorsement in blank is converted into that in full before presentation.
