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 ... Summary
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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