State Act
57
Section 57. Issue of converted Board securities etc.
The West Bengal Maritime Board Act, 2000
Act no. 30 of 20002000In forceWest Bengal (State Act)
57. (1) The Board may, subject to such conditions as it may prescribe, on the application of a person claiming to be entitled to a Board security issued by it, on being satisfied of the justification of the claim and on delivery of the Board security receipted in such manner and on payment of such fee, if any, as it may prescribe, convert, consolidate or subdivide the Board security, and issue to the applicant a new Board security accordingly. (2) The conversion, consolidation or sub-division referred to in sub-section (1) may be into Board security or Board securities of the same or different classes or of the same or different loans.