Amendment status not verified — confirm the current text below against the official source.
(1) When any Board security is alleged to have been lost, stolen or destroyed either wholly or in part and a person claims to be the person to whom but for the loss, theft or destruction it would be payable, be may, on application to the Board and on producing proof to its satisfaction of the loss, theft or destruction and of the justice of the claim and on payment of such fee, if any, as may be prescribed by regulations, obtain from the Board an order for— (a) the payment of interest in respect of the security said to be lost, stolen, or destroyed, pending the issue of a duplicate security; and (b) the issue of a duplicate security payable to the applicant. (2) An order shall not be passed under sub-section (1) until after the issue by the Board of the notification of the loss, theft or destruction in the manner prescribed by regulations. (3) A list of securities in respect of which an order is passed under sub- section (1) shall be published in such manner as the Board may prescribe by regulations. (4) If at any time before the Board become discharged under the provisions of 1 of 1956. 11 of 1912. Power of one or two or more joint holders to grant receipts. XXVI of 1881. Endorsements to be made on a security itself. Endorsement of security not liable for amount thereof. XXVI of 1881. Impress on of signature on securities. Issue of duplicate security. The Gujarat Maritime Board Act, 1981 27 of 42 this Act from liability in respect of any security the whole of which is alleged to have been lost, stolen or destroyed such security is found, any order passed in respect thereof under this section shall be cancelled.