Section 15 in The U.P. State Electricity Board (Issue of Bonds) Rules, 1964
15. Transfer otherwise than by death of holder or transfer in Books or by Deed.
- (i) If the interest in any bond has been transferred by any lawful means other than a transfer in books or a deed in accordance with these rules on the death of a holder of the bond, satisfactory evidence of the transfer shall be furnished to the Registrar by an affidavit of one or more competent persons or in such other manner as the Registrar with the previous approval of the Board, may require.(ii)The name of the person entitled under the transfer shall be entered in the Register.(iii)Until evidence has been furnished in accordance with sub-rule (1), the Board or the Registrar shall not recognize the transfer, and no person claiming under the transfer shall be entitled to receive any interest on the bond.Explanation. - For the purpose of this rule, the expression "transfer" includes any case of endorsement in the name of the holder of a bond.
