(1) The Board may, subject to such conditions as it may prescribe by regulation on the application of a person claiming to be entitled to Board Security or securities issued by it, on being satisfied of the justice of the claim and on delivery of the security or securities receipted in such manner and on payment of such fee, if any, as it may prescribe by regulation, convert, consolidate or sub-divide the security or securities, and issue to the applicant a new security or securities, accordingly.
(2) The conversion, consolidation or sub-division referred to in sub-section (1) may be into a security or securities of the same or different classes or of the same or different loans.
(2) The conversion, consolidation or sub-division referred to in sub-section (1) may be into a security or securities of the same or different classes or of the same or different loans.
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More sections of this act
Section 1 · Short title, extent, commencement and application.Section 2 · Definitions.Section 3 · Establishment of Maharashtra Maritime Board.Section 4 · Disqualification of members.Section 5 · Term of office of members.Section 6 · Removal of members of Board.Section 7 · Eligibility of appointment.Section 8 · Filling of vacancy.India Code, Government of India. Text fetched 21 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.