Section 31 in Assam Urban Water Supply and Sewerage Board Act, 1985
31. Form, Signature, Exchange, Transfer and Effect of Debentures.
(1)whenever money is borrowed by the Board on debentures, the debentures shall be in such form as the Board may, with the previous sanction of the State Government specify.(2)All debentures shall be signed by the Managing Director or Secretary or by any one of the Official Directors of the Board.(3)The holder of any debenture in any from specified under sub-section (1) may obtain in exchange therefore a debenture in any other from specified in the manner provided in sub-section (1) and upon such terms as the Board may determine.(4)Every debentures issued by the Board shall be transferable by endorsement, unless some other mode of transfer is specified therein.(5)All coupons attached to the debentures issued by the Board shall bear the signature of the Managing Director and such signature may be engraved, lithographed or impressed by any mechanical process.
