Section 25 in The M.P. Electricity (Supply) Finance Rules, 1967
25. Transfer on death.
(1)The interest of a deceased holder of any security shall be transferable by his executors or administrators.(2)Where two or more persons are registered as holders of security those persons shall be deemed to be joint holders of such security with right of survivorship between them.(3)The Board or the appropriate Registrar may refuse to allow any executors or administrators to transfer any security until the probate of the will or the letters of administration to the estate of the deceased or a succession certificate under the Indian Succession Act, 1925, Central Act XXXIX of 1925 has or have been left with the Registrar for registration and may require all the executors or the administrators to join in the transfer.
