Amendment status not verified — confirm the current text below against the official source.
(1) Whenever money is borrowed by the Board on debentures, the debentures shall be in such form as the Board may, with the previous sanction of the Government, determine. (2) All debentures shall be signed by the Chairman and one other Trustee. (3) The holder of any debenture in any form prescribed under sub-section (1) may obtain in exchange therefore a debenture in any other form so prescribed, upon such terms as the Board may determine. (4) livery debenture issued by the Board shall be transferable by endorsement, unless some other mode of transfer is specified therein.