(a) A person who becomes entitled to stock by transmission pursuant to these regulations may either himself be registered as the holder of the stock so transmitted, or instead of being himself registered may, with the approval of the Registrar, make such transfer of the stock as the stockholder from whom the same was transmitted could have made, and any such transfer shall be accompanied by such evidence in proof of the title of the transferor as the Registrar may reasonably require.

(b) Where a loan is issued wholly or partly in the form of the name of the person whose property is required by law to be placed in the hands of the Public Trustee or of an officer holding a corresponding position in any other State or of any other officer charged with the duty of administering estates of deceased persons or missing persons or persons under disability (other than bankruptcy or insolvency), the Registrar may (notwithstanding the provisions of regulations 21 and 22 of these regulations) authorise the transmission of the stock to the name of the Public Trustee, the officer holding a corresponding position, or other officer, but before doing so, the Registrar may require a sufficient indemnity from the Public Trustee, the officer holding a corresponding position, or other officer.