(1)When any Board security is lost, stolen or destroyed either wholly or in part and a person claims to be the person to whom but for the loss, theft or destruction it would be payable, he may, on application to the Board and on producing proof to the satisfaction of the Board, loss, theft or destruction and of the genuineness of the claim and on payment of such fee, if any, as may be provided by regulations, obtain from the Board an order for,-(a)the payment of interest in respect of the security said to be lost, stolen, or destroyed, pending issue of a duplicate security; and(b)the issue of a duplicate security payable to the applicant.(2)An order shall not be passed under sub-section (1), until after the issue by the Board of the notification of the loss, theft or destruction in the manner specified by regulations.(3)A list of securities in respect of which an order is passed under sub section (1), shall be published in such manner as the Board may specify by regulations.(4)If at any time before the Board becomes discharged under the provisions of this Act from the liability in respect of any security the whole of which is alleged to have been lost, stolen or destroyed such security is found, any order passed in respect thereof under this section shall be cancelled.
