It forces all investors to give up the bonds they hold according to the same ratio when the issuer returns the sinking fund. It is often used in registered securities.
Article 159 The registration and clearing institution of registered corporate bonds shall establish systems relating to registration and custody of bonds, interest payment, encashment, etc.
第一百五十九条记名公司债券的登记结算机构应当建立债券登记、存管、付息、兑付等相关制度。
3
Registered corporate Bonds are transferred by the Bondholder through endorsement or by other means as stipulated by law or administrative regulations.