Section 76 in The Orissa State Financial Corporation General Regulations, 2003
76. Common Seal of the Corporation.
- (i) The Board shall provide a Common Seal for the purpose of the Corporation and shall have powers from time to time to destroy the same and substitute a new seal in lieu thereof and the Board shall provide for the safe custody of the seal for the time being.(ii)The common seal of the Corporation shall be affixed to the share certificate issued by the Corporation, power of attorney made in favour of a person and may be used for such other purposes as may be approved by the Board/Executive Committee.(iii)The common seal of the Corporation shall not be affixed to any instrument except pursuant to a resolution of the Board or the Executive Committee as the case maybe and except in the presence of at least two Directors one of whom shall be the Managing Director, who shall sign their names to the instrument in token of their presence, and such signing shall be independent of the signing of any person who may sign the instrument as a witness. Unless so signed as aforesaid, such instrument shall be of no validity.
