Section 38A in The Orissa State Electricity (Supply) Rules, 1962
38A. [ Transfer of bonds not secured by a trust deed. [Inserted vide Orissa Gazette Extraordinary No. 209/1962.]
(1)Bonds not secured by a trust deed may be transferred by endorsement and delivery.(2)The appropriate Registrar shall keep a register of transfer of bonds not secured by a trust deed and as soon as may be after the date of every transfer, the appropriate Registrar shall cause entries to be made in the appropriate register of transfers, the date of such transfer, the names, addresses and descriptions of the parties thereto and the number, of bond transferred thereby and until such entries have been made neither the Board nor the Registrar shall be in any manner responsible to the transferee. A separate register of transfer of bonds, distinguished by a number or otherwise shall be kept for each class of bonds not secured by a trust deed.(3)On the registration of any transfer of a bond not secured by a trust deed, the transferee, or his executors or administrators, shall be entitled to the full benefit of the original bond, the principal and interest secured thereby.(4)No person except the last transferee registered as aforesaid or his executors or administrators shall be entitled to transfer, release or any such bond or any money secured thereby.]
