Section 8 in The Warehousing Development and Regulatory Authority (Electronic Negotiable Warehouse Receipts) Regulations, 2017
8. Transfer of electronic negotiable warehouse receipt.
(1)An electronic negotiable warehouse receipt may have several holders during its lifetime.(2)Where the electronic negotiable warehouse receipt holder intends to transfer the ownership of electronic negotiable warehouse receipt to some other person, the holder of electronic negotiable warehouse receipt or transferor shall submit the request for such purpose to the repository or its participant.(3)After due verification, the repository or its participant shall intimate the transferee in regard to the request made under sub-regulation (2), who shall confirm the transfer.(4)After confirmation, the repository shall transfer such electronic negotiable warehouse receipt to the account of the transferee through electronic mode.(5)The repository systems shall be updated in regard to the transfer of the electronic negotiable warehouse receipt.(6)The repository shall intimate the transferor and transferee and warehouseman about the transfer of electronic negotiable warehouse receipt through electronic means, mobile applications or such other means as may be laid down by the Authority.
