Section 13 in Orissa State Financial Corporation General Regulations, 1957
13. Issue of share certificates free of charge.
(1)The State Government and the Reserve Bank shall each be entitled free of charge to one certificate for all the shares registered in their names at each allotment under Clauses (a) and (b) of Sub-section (3) of Section 4 of the Act. If any shares are allotted to the State Government in pursuance of Sub-section (5) of Section 4, an additional certificate in respect of such shares shall also be issued, free of charge to the State Government.(2)Every shareholder other than the State Government and the Reserve Bank shall be entitled free of charge to one share certificate for each 25 shares registered in his name and one additional share certificate for the number of shares in excess of a multiple of twenty five shares registered in his name at each allotment. A shareholder holding less than twenty five shares shall be entitled free of charge to one share certificate for all the shares registered in his name at each allotment.(3)If any shareholder requires more share certificate than the number to which he is entitled free of charge under this Regulation he shall pay a fee of rupee one for each additional share certificate.(4)In the case of shares held jointly by several persons delivery of the relative share certificate to any one of such joint holders shall be sufficient delivery to all and the receipt therefore signed by any one of the joint holders shall effectively bind all the joint holders.
