Section 74
Issue of converted, etc., securities.
The Major Port Trusts Act, 1963
About this Act
An Act to make provision for the constitution of port authorities for certain major ports in India and to vest the administration, control and management of such ports in such authorities and for matters connected therewith.
(1) A Board may, subject to such conditions as it may
prescribe, on the application of a person claiming to be entitled to a Port Trust security or securities issued
by it, on being satisfied of the justice of the claim and on delivery of the security or securities receipted in
such manner and on payment of such fee, if any, as it may prescribe convert, consolidate or sub-divide the
security or securities, and issue to the applicant a new security or securities accordingly.
(2) The conversion, consolidation or sub-division referred to in sub-section (1) may be into a security or securities of the same or different classes or of the same or different loans.
(2) The conversion, consolidation or sub-division referred to in sub-section (1) may be into a security or securities of the same or different classes or of the same or different loans.