69. The right, title and interest of the purchaser of a savings certificate, other than a bearer certificate, shall not be assigned, donated, hypothecated, sold, transferred or otherwise disposed of by the purchaser in any manner whatsoever; and any such assignment. donation, hypothecation, sale, transfer or disposition shall not be recognized by the Bank and shall for all purposes be null and void: Provided that the preceding provisions of this section shall not affect or be deemed to affect-
| (a) the right of the Bank, in accordance with such rules as may be made in that behalf, to issue a new savings certificate in any case where the purchaser of a savings certificate desires to gift his rights there under; or |
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| (b) the right of the purchaser of any savings certificate to assign such certificate by way of security for the payment of moneys which may be or become due to the Government or to any local authority, or as security for the purposes of section 2 of the Public Officers (Security) Ordinance; or |
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| (c) the right of the purchaser of any savings certificate to assign such certificate by way of security to the Bank for a loan; or |
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| (d) the right of the purchaser of a savings certificate of such class or description as may be declared by rules to be assignable, to assign any certificate of such class or description in the prescribed manner to any person. |
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Sri Lanka Consolidated Acts