(1) A holder of an annuity certificate may be required by the Public Debt Office to receipt the same for renewal in any of the following cases, namely:
(a) if the annuity certificate is torn or in any way damaged;
(b) if the annuity certificate having been en-faced three times for payment of annuity is presented for re-enfacement; and
(c) if, in the opinion of the Public Debt Office, the title of the person presenting the annuity certificate is irregular or not fully proved.
(2) When a requisition for renewal of a certificate has been made under sub-rule(1), further payments on the certificate may be refused until it is receipted for renewal and actually renewed.
[8. Execution of Bonds by persons entitled to Annuity Certificates.- In cases to which Sections 9, 10, 11 or 12 of the Act applies, the Bank may require any person considered by it as being entitiled to an annuity certificate to execute a bond in Form B with one or more sureties approved by the Public Debt Office, or to furnish security in the form of Government securities, not execeeding twice the value of the subject matter of the order, to be held at the disposal of the Bank, to pay to the Bank or to any person to whom the Bank may assign such bond or security, in furtherance of sub-section (2) of section 16 of the Act, the amount thereof.]
[8A. Provision for recognition of title to Annuity Certificates held by managing member of Hindu Joint Family subject to Mitakshara Law.- The certificate required under the proviso to section 7 of the Act shall be a certificate signed by the District Magistrate after such inquiry (if any) as he considers necessary to determine the matters referred to therein.]
[9. Receipt for renewal, etc.- Subject to any general or special instructions from the Bank, the Public Debt Office may, on application by the holder, renew or sub-divide an annuity certificate provided that the annuity certificate has been receipted in form C or, as the case may be, in form C-1]