(2)On an application made in writing to the Public Debt Office in the Form required by that office, by the person in whose name a Government security stands and on surrender of the security the Public Debt Office may-(a)Make an entry in their books describing him as a trustee of a specified. trust or as a trustee without specification of any trust and issue a stock certificate in his name described as trustee with or without the specification of the trust as the case may be, or(b)Issue a stock certificate to him by the name of his office and make entry in its books describing him as the holder of the stock by the name of his office, according to the applicant request provided -(i)The request is in conformity with the provisions of sub-rule (1) hereof,(ii)The necessary evidence required by the Public Debt Office in terms of sub-rule 7 has been furnished, and(iii)[ The Government security in the form of a Government promissory note has been endorsed in the case of securities of the Central Government in favour of the President of India, and in the case of securities of State Governments in favour of the Governor [* * * *] [Substituted by No. 8(12)B/49, dated 29.10.1949] of the State concerned.]
