Section 36 in Punjab Water Supply and Sewerage Board Act, 1976
36. Form, signature, exchange, transfer and effect of debentures.
(1)When 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 Government, specify.(2)All debentures shall be signed by the Managing Member or Secretary or by one of the ex officio members of the Board.(3)The holder of any debenture in any form specified under sub-section (1) may obtain in exchange therefor a debenture in any other form specified in the manner provided in sub-section (1) and upon such terms as the Board may determine.(4)Every debenture issued by the Board shall be transferable by endorsement, unless some other mode of transfer is specified therein.(5)All coupons attached to debentures issued by the Board shall bear the signature of the Managing Member.
