Section 233: Transfer of registered bond.

(1) For the purposes of this part of this Act, the title of any bond holder to a registered bond, shall not be deemed to be transferred to any other person except upon the execution of an approved instrument of transfer to the other person and upon the registration of the transferee as the bond holder as provided under section 234 of this Act.
(2) Interest which is due in respect of a registered bond but which has not been paid to a bond holder for the time being shall not be deemed to be payable to a transferee of that bond unless the instrument of transfer expressly provides for the payment of that interest to the transferee.