Section 77 Stamp Duties Act

Section 77 of Stamp Duties Act 1939 is about Meaning of marketable security transferable on delivery and instrument to bearer. It provides as follows:

An instrument used for the purpose of assigning, transferring marketable or in any manner negotiating the right to any marketable security, security share or stock, shall, if the delivery thereof is by usage treated as sufficient for the purpose of a sale on the market, whether that delivery constitutes a legal assignment, transfer or negotiation, or not, be deemed a marketable security, transferable on delivery or an instrument to bearer, as the case may be, and the delivery thereof, an assignment, transfer or negotiation.