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Union of India - Section

Section 9 in The Insurance Rules, 1939

9. Withdrawals, etc., of deposits

.-(1) Withdrawals and payments from deposits and purchases of securities shall not be made save in accordance with the provisions of the Act and on receipt by the Bank of a requisition in writing and in accordance with the provisions of the Act from the depositor, a liquidator acting in accordance with law or a Court of competent jurisdiction, as the case may be.
(2)The Bank shall not be bound, in pursuance of sub-rule (1), to return securities actually deposited, but may substitute therefor new scrip of securities of the same description and amount.
(3)The Bank shall be entitled to charge, for the purpose or sale of securities, any brokerage payable by the Bank in respect of such purchase or sale.