Section 27 in The Small Industries Development Bank Of India (General Regulations), 2000*
27. Transfer of shares .-(1) Every transfer of the shares of the Small Industries Bank shall be in writing and in Form A as provided in Schedule VI.
(2)The instrument of transfer of any share shall be submitted to the Board and shall be signed by the transferor and the transferee and the transferor shall be deemed to remain the holder of such shares until the name of the transferee is entered in register.(3)Upon receipt by the Board of an instrument of transfer with a request to register the transfer, the Board shall, unless it refuses to register the transfer under section 20-D of the Act, cause the transfer to be registered:Provided that nothing contained in this regulation shall apply to the shares held with a depository. The register of beneficial owners maintained by a depository under section 11 of the Depositories Act, 1996 (22 of 1996) shall deem to be the register of share holders for the purpose of this regulation.
