Section 13 in The Orissa State Financial Corporation General Regulations, 2003
13. Issue of Share Certificate Free of Charge.
- (i) The State Government and the Small Industries Bank shall each be entitled free of charge, to one certificate for all the shares registered in their names at each allotment. If any shares are allotted to the State Government and the Small Industries Bank in pursuance of Sub-section (5) of Section 4, an additional certificate in respect of such shares shall also be issued free of charge to the State Government and the Small Industries Bank respectively.(ii)Every other shareholder shall be entitled, free of charge, to one certificate, for each 50 shares registered in his name and one additional certificate for the number of shares in excess of a multiple of 50 shares registered in his name at each allotment. A shareholder holding less than 50 shares shall be entitled free of charge to one share certificate for all the shares registered in his name at each allotment.(iii)If any shareholder requires more certificates than the number to which he is entitled free of charge under this regulation, he shall pay for each additional certificates such sum as may be decided by the Managing Director from time to time.(iv)In the case of shares held jointly by several persons delivery of the relative certificates to one of such joint holders shall be sufficient delivery to all and the receipt therefore signed by any one of the joint holders shall effectively bind all the joint holders provided that nothing contained in this regulation shall apply to shares held with a depository.
