Section 18 in Andhra Pradesh State Financial Corporation General Regulations, 2004
18. Power to refuse recognition of instrument of Transfer.
- (i) The Board may decline to recognize any instrument of Transfer unless:a. a sum of rupees 10/- or a sum as may be decided by the Managing Director from time to time with the approval of the Board is paid to the Corporation in respect thereof, which sum shall not, in any event, be refunded.b. the instrument of transfer is accompanied by the certificate of the shares/ debentures to which it relates; andc. the parties furnish such other evidence as the Corporation may reasonably require in connection with the transfer.(ii)Upon receipt by the Board of an instrument of Transfer with a request to register the transfer, the Board shall make such enquiry as it may consider necessary to satisfy itself that the transferee is qualified under the Act and these Regulations to be registered as a shareholder.
