40. (1) Where the ownership of any motor vehicle registered under this Chapter is transferred:(a) the transferor shall, within fourteen days of the transfer, report the transfer, to the registering authorities within whose jurisdiction the transfer is effected and shall simultaneously send a copy of the said report to the transferee;(b) the transferee shall, within thirty days of the transfer, report the transfer to the registering authority within whose jurisdiction he resides and shall forward the certificate of registration to that registering authority together with the prescribed fee and a copy of the report received by him from the transferor in order that particulars of the transfer of ownership may be entered in the certificate of registration;(c) the registering authority shall cause physical verification of particulars by the authority specified under section 37, and, if satisfied to the genuineness of transfer, may enter the particulars of the transfer of ownership in the certificate of registration ¹[within thirty days of the report made under clause (b)]. (2) A registering authority other than the original registering authority making any such entry shall communicate the transfer of ownership to the original registering authority and, to the authority which may require to issue or renew the certificate of fitness.