(a) After allotment and payment in full for stock, the name of the allottee together with the amount of stock allotted and such other matters and particulars as the Registrar may deem necessary, shall be inscribed in the stock ledger.

(b) The stock ledger may be kept in the form of a loose leaf ledger or in any other manner approved by the Board.

(c) Every entry in the stock ledger shall be initialled by the Registrar or such other officer of the Board as the Board may from time to time appoint, and the ledger shall be audited from time to time by an officer appointed for that purpose by the Auditor General of the State.