Section 5. Holding of Government securities by holders of public offices

5. Holding of Government securities by holders of public offices.— (1) In the case of any public office to which[6] [the Government] may, by notification in the Official Gazette, declare this sub-section to apply, a Government security in the form of stock or of a promissory note may be held in the name of the office. (2) When a Government security is so held, it shall be deemed to be transferred without any or further endorsement or transfer deed from each holder of the office to the succeeding holder of the office on and from the date on which the latter takes charge of the office. 1. Subs. by Act 57 of 1956, s. 5, for certain words (w.e.f. 15-10-1956). 2. Subs. by the Adaptation of Laws (No. 3) Order, 1956, for the opening paragraph.