(1)Stock secured by a trust deed shall be transferred by an instrument in writing and shall be executed both by the transfer and the transferee and duly witnessed and the transfer shall be properly stamped.(2)This instrument of transfer and the certificate to which the same relates shall be deposited with and retained by the appropriate Registrar who shall cause an entry thereof to be made in a book to be called "the register of transfers" and shall endorse on the deed of the transfer a note of that entry and shall issue a new certificate or certificates to the transferee or the transferor, as the case may require. A separate register of transfers distinguished by a number or otherwise shall be kept for each class of stock secured by a trust deed.(3)Not more than one class of stock shall be included in any transfer and the deed shall relate only to the transfer and shall not contain any recital power or proviso whatsoever.
