Section 11 — Nomination

(i) A sole holder or all the joint holders (investors) of a Bond, being individual/s, may nominate in Form B annexed to this notification (Annexure 4) or asnear thereto as may be, one or more persons who in the event of death of the sole holder/all the joint holders, as the case may be, would be entitled to theBonds and to the payment due thereon, provided that the person or each of the persons nominated is himself/herself is competent to hold the Bond.
(ii) Where the nomination has been made in favour of two or more nominees and either or any of them dies before such payment becomes due, the title to theBonds shall vest in the surviving nominee or nominees and the amount being due thereon shall be paid accordingly.
(iii) In the event of the nominee or nominees predeceasing the holder, the holder may make a fresh nomination.
(iv) The investor(s) can make separate nomination for each investment.
(v) No nomination shall be made in respect of the Bonds issued in the name of a minor.
(vi) A nomination made by a holder of a Bond can be changed by a fresh nomination in Form B, or as near there to as may be, or may be cancelled by givingnotice in writing to the Receiving Office in Form C, annexed to the notification (Annexure 5).
(vii) Every nomination and every cancellation or variation shall be registered at the Receiving Office where the Bond is issued and shall be effective from thedate of such registration.
(viii) If the nominee is a minor, the holder of Bonds may appoint any person to receive the Bonds/amount due in the event of his/her/their death during theperiod the nominee is a minor.