State Act
Section 33. Form, signature, exchange, transfer and effect of debentures.
THE KARNATAKA URBAN WATER SUPPLY AND DRAINAGE BOARD ACT, 1973
33. Form, signature, exchange, transfer and effect of debentures.- (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 specify. (2) All debentures shall be signed by the Managing Director or Secretary or by any one of the official directors of the Board. (3) The holder of any debenture in any form specified under sub-section (1) may obtain in exchange therefor a debenture in any other form specified in the manner provided in sub-section (1) and upon such terms as the Board may determine. (4) Every debenture issued by the Board shall be transferable by endorsement, unless some other mode of transfer is specified therein. (5) All coupons attached to debentures issued by the Board shall bear the signature of the Managing Director and such signature may be engraved, lithographed or impressed by any mechanical process.