(1) The holder of a bond may be required by the Public Debt Office to receipt the same for renewal in any of the following cases, namely:
(a) [if no space is left of the back of the bond for further endorsement] of if any word is written upon the bond across any existing endorsement or endorsements:
(b) if the bond is torn or in any way damaged or crowded with writing or unfit, in the opinion of the Public Debt Office;
(c) if any endorsement is not clear and distinct or does not indicate the payee or payees, as the case may be, by name or in the case of office-holders, by office, or is made otherwise than in one of the endorsement cages on the back of the bond;
(d) if the bond having been enfaced three times for payment of instalments is presented for re-enforcement; and
(e) if, in the opinion of the Public Debt Office, the title of the person presenting the bond for payment of instalment is irregular or not fully proved.
(2) When requisition for the renewal of a bond has been made under sub-rule(1), payment of any further instalments thereon may be refused until it is receipted for renewal and actually renewed.