Section 7. Holding of Government securities by holders for the time being of public offices

7. Holding of Government securities by holders for the time being of public offices. 8. Transfer and discharge of certificates and coupons. 9. Indorser of Government security not liable for amount thereof. 10. Impression of signature on Government securities. 11. Issue of renewed securities. 12. Issue of duplicate securities. (3) When the holder for the time being of the office indorses to a third party a Government security made or indorsed as aforesaid, he shall subscribe the indorsement with his name and the name of the office. (2) When a Government security is made or indorsed as aforesaid, it shall be deemed to be transferred without any or further indorsement from each holder for the time being of the office to the succeeding holder for the time being of the office on and from the date on which the latter takes charge of the office. (5) This section applies as well to an office of which there are two or more joint holders as to an office of which there is a single holder. Transfer and discharge of certificates and coupons. (4) A writing on a Government security now or heretofore standing in the name of the holder of a public office, whereby the security has been or was made or indorsed payable to or to the order of the holder of the office for the time being, shall not be deemed to be or to have been invalid by reason only of the payee or indorsee being the holder for the time being of a public office by the name of the office. 7. (1) In the case of any public office to which the Governor General in Council may, from time to time, by notification in the Gazette of India, declare this sub-section to apply, a Government security may be made or indorsed payable to or to the order of the holder for the time being of the office by the name of the office.