S.L. 123.90 Art. 4Replacementoftax credit certificate.

(1) When a person declares in writing that he is the lawful owner of a tax credit certificate and notifies the Commissioner in writing that such certificate has been lost, stolen, destroyed or defaced, he may apply to the Commissioner for a replacement certificate.

(2) When the application for a replacement certificate is made to replace a defaced certificate, the original certificate shall be surrendered to the Commissioner at the same time that the application is made.

(3) The Commissioner may issue and deliver to the applicant a replacement certificate if he is satisfied that the application is made bona fide: provided that the Commissioner may disallow the application without assigning any reason therefor.

(4) Before allowing an application under this regulation the Commissioner may request the applicant to give such undertaking, security and indemnity as it considers appropriate.

(5) A replacement certificate shall comply with regulation 3(3) and it shall also indicate that it is a replacement certificate.

(6) The Commissioner shall note and keep record of every original and replacement certificate.