Non-transferability of government bonds: non-negotiable bonds with annual interest and registered-holder nomination regime. Government prescribes the form and terms of National Rural Development Bonds (Second Issue) under the Public Debt Act and Rules, specifying a three-year term and an annual interest rate of seven and a half percent paid annually by warrant to the registered address. The bond is declared non-negotiable and non-transferable before maturity. Issuance and administration rules include date of issue as date of receipt or realization, address-change notification to the Public Debt Office, nomination and registration procedures for sole holders, and a fee structure exempting the first nomination but charging a prescribed fee for subsequent registrations.