Section 239(8) in The Navy (Pay And Allowances) Regulations, 1966
(8)The said agreement shall be executed by the officer in the presence of the Commanding Officer of the ship or establishment or other similar authority at the time the advance is drawn, and the said mortgage bond shall be executed in the presence of the same authority and another officer as soon as purchase has been made hypothecating the vehicle to the President of India as security for the advance.
