|
Application for and right to conversion.
|
3.—(1) Where an offer of conversion is made under this Act in respect of stock of a Government loan, every stockholder who duly applies for conversion of his holding or a specified part of his holding of the stock in accordance with the offer shall be entitled to have his holding or the said part of his holding (as the case may be) converted as on the redemption date into stock of the new loan of such amount and upon such terms as are applicable in accordance with the offer.
|