[(1) Subject to any general or specific instructions of the Bank, the Public Debt Office may, by its order, on the application of the holder,
(a) renew or consolidate a bond or bonds, provided that the bond or bonds has or have been receipted in Form D or E as the case may be;
(b) renew, sub-divide or consolidate a stock certificate or stock certificates, provided the stock certificate or stock certificates has or have been receipted in Form I, J or K, as the case may be.]
(2) Sub-division of a bond or bonds will not be allowed except on an order made by Bank in its discretion. If sub-division is permitted, the bond or bonds tendered for sub-division shall be receipted in Form F.
(3) The Public Debt Office may, under any of the sub-rules of this rule, require the applicant to execute a security bond in Form C with one or more sureties approved by the Public Debt Office or to furnish security not exceeding 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 the security bond or security in furtherance of sub-section (2)of section 16 of the Act, the amount thereof.