Circulars/Notifications - Banking Inspection Department  
 SD Circular No.SD/3428/3(166)/99
December 16, 1999 


All Authorized Dealers
In Foreign Exchange.

Dear Sirs,

SPECIAL U.S. DOLLAR BONDS-PROCEDURE THEREOF

 

Please refer to para 3 sub para (ii) of SUSDB procedure circulated vide our circular letter No. SD/3930/3(166) dated the 7th December, 1998 regarding transfer of Registered catetory of SUSDB from one person to another. In this context please find appended procedure of transfer for your information and compliance.
  • Transfer application filled in & signed by the transferor and transferee shall be received alongwith attested photogcopies of their N.I.C. at the issuing office of the SUSDB.
  • Tranfer application shall accompany transfer fee @ Rs. 4/- per hundred with maximum of Rs.400/- calculated by converting face value in U.S. Dollar at the average of the closing inter bank buying rate prevailing on the previous working day of the date of transfer application.
  • Before effecting transfer, issuing office shall ensure that profit coupon book, with unused leaves, has also been surrendered by the transferor to the issuing office.
  • After authentication of the transferor signature from the record of the issuing office & on verification of signature of transferee from the N.I.C. new SUSDB with same denomination and maturity period shall be issued in the name of transferee by cancelling the SUSDB and profit coupon book issued to the transferor.
  • The new SUSDB issued shall bear remarks legibly in red ink below the space for Registration No. & date of issue as "Transferred" against SUSDB bearing Regd. No. Date of issue.
  • New profit coupon book shall be issued to the transferee by cancelling/ detatching the leaves of the profit coupons already paid to the transferor.
  • The issuing office shall give remarks on the cancelled SUSDB as " Cancelled against SUSDB with Regd. No. ________ date of issue _________on transfer in the name of (transferee).
  • Original record of transfer being retained with the issuing office, its photocopies , cheque of the amount of transfer fee, cancelled SUSDB and profit coupon book in original shall be sent to respective PDO in Form SUSDB –5 with remarks at its foot note (iii) as "Transferred SUSDB against which cancelled SUSDB surrendered". The Form SUSDB-5 as such shall be furnished separate so as to avoid treating such issue as fresh sale.
        Please acknowledge receipt

 

       
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