Social security certificates may be pledged to specified institutions with Postmaster endorsements and authorised re-transfer procedures. Rule 13 permits transfer of a registered social security certificate as security to specified institutional pledgees upon application in the prescribed form, requires the Postmaster to endorse transfers and re-transfers with fixed wording, deems the pledgee to be the holder until re-transfer, conditions re-transfer on pledgee authority and Postmaster sanction, mandates officer certification of authorisation when acting for institutional pledgees, and allows issuance of a fresh, equivalent certificate where endorsement space is exhausted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Social security certificates may be pledged to specified institutions with Postmaster endorsements and authorised re-transfer procedures.
Rule 13 permits transfer of a registered social security certificate as security to specified institutional pledgees upon application in the prescribed form, requires the Postmaster to endorse transfers and re-transfers with fixed wording, deems the pledgee to be the holder until re-transfer, conditions re-transfer on pledgee authority and Postmaster sanction, mandates officer certification of authorisation when acting for institutional pledgees, and allows issuance of a fresh, equivalent certificate where endorsement space is exhausted.
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