Nomination

(a) (i) Every Member or Joint Member of the Society may nominate one or more persons in the prescribed Nomination Form for the purpose of transfer of the shares and interest of the deceased Member in accordance with Section 154B-13 of the Act, Rule 106C-8 and these Bye-laws.

(b) (ii) The nomination shall be signed by the Member and submitted to the Society during his lifetime. Where the shares and interest are held jointly, each Joint Member may make a separate nomination in respect of his or her respective share and interest.

(c) (iii) An Associate Member or a Provisional Member shall not be entitled to make any nomination.

(d) (iv) A Member may, at any time during his lifetime, revoke or vary an existing nomination by submitting a fresh Nomination Form in the prescribed form. Upon recording of such fresh nomination, the earlier nomination shall stand revoked to the extent of such revocation or variation.

(e) (v) The Secretary shall acknowledge the receipt of every nomination, revocation or variation and shall record the same in the Register of Nominations maintained by the Society in accordance with Rule 106C-9.

(f) (vi) No fee shall be charged for recording the first nomination. A fee of ₹100/- shall be charged for every subsequent nomination, revocation or variation.

(g) (vii) Where more than one nominee is appointed, the Member may specify the proportion in which the shares and interest shall devolve upon each nominee. In the absence of such specification, the nominees shall be deemed to have been nominated in equal proportion.

(h) (viii) A nomination shall not by itself create or confer any ownership, title or beneficial interest in the flat/unit or in the shares and interest of the deceased Member. It shall only entitle the nominee to seek admission as a Provisional Member and to represent the estate of the deceased Member in accordance with Section 154B-13 of the Act, the Rules and these Bye-laws until the final transfer is effected in favour of the person or persons legally entitled thereto.

(i) (ix) The rights, title and interest of the deceased Member shall ultimately devolve in accordance with the applicable succession law, testamentary disposition, registered family arrangement or any other legally valid document recognised under law.