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Union of India - Section

Section 16 in The Post Office Savings Certificates Rules, 1960

16. Transfer of certificate from one person to another.

(1)A certificate may be transferred with the previous consent in writing of an officer of the Post Offices as specified below (hereinafter referred to in these rules as authorised Postmaster)
Cases in which transfer can be sanctioned Designation of the officer competent to grantpermission for transfer
(a) (i) From theauthority controlling a provident fund to the member of the fundon whose behalf the certificate was purchased.(ii) From an employer to an employee on whose behalf it waspurchased.(iii) From a Co-operative Bank/Society, the ReserveBank of India or a Scheduled Bank to its client/member or from aGazetted GovernmentOfficer or from a local authority to a person or body of fund onwhose behalf the certificate is held, when the certificate wasnot issued in the name of such person or body or fund.(iv) From the name of a deceased holder to his heir.(v) From a holder to a court of law or to any other person underthe orders of a court of law.(vi) From a single holder to the names of two joint holders ofwhom the transferor shall be one.(vii) From joint holders to the name one of the joint holders. Head Postmaster or Sub- Postmaster of the postoffice where the certificate stands registered.
(b) All other cases Head Postmaster
(2)An authorised Postmaster shall give his consent to the transfer of a certificate only if the following conditions are satisfied, namely:-
(a)The transfer of the certificate is effected after the expiry of one year from the date of issue of the certificate or where the transfer is effected before this period, the transfer falls under any of the following categories, namely:-
(i)transfer to a near relative out of natural love and affection;
Explanation. - `Near Relative' means a husband, wife, lineal ascendant or descendant, brother or sister.
(ii)transfer in the name of the heir of the deceased holder;
(iii)transfer from the holder to a court of law or to any other person under the orders of court of law;
(iv)transfer in accordance with Rule 19;
(v)transfer of a certificate, purchased under items (iii) and (iv) of the Table below Rule 6, from the name of the person or body who purchased the certificate to the name of the person or body on whose behalf it was purchased;
(b)An application for the transfer is made in the form laid down by the Director General Posts. Every such application shall be signed by the holder or holders thereof provide d that in the case of joint type certificate, the application may be signed by one of the holders if the other is dead.
(3)Authorised Postmaster shall give his consent to the transfer of a certificate held on behalf of a minor only if, at the time of the proposed transfer, a parent or the guardian referred to in sub clause (i) or, as the case may be, sub-clause (ii) of clause (ii) of clause (b) of section 5 of the Act certified, in writing, that minor is alive and that such transfer is in his interest.
(4)In every case of transfer, except the transfer under Rule 19, the original certificate shall be duly discharged and a new certificate bearing the same date as that of the original certificate surrendered shall be issued in the name of the transferee.