(a) Upon the death of a person who is entitled to receive from the Registrar any debentures not exceeding a face value of six hundred pounds, the Registrar may authorise the delivery of the debenture to such person as he thinks fit.

(b) No person shall have any claim against the Board in respect of any debentures delivered under this regulation but nothing in this regulation shall relieve the person to whom the debentures are delivered from accounting for or dealing with the debentures as required by law.