transfer of fixed deposit

Hi everybody

Mr x and MrY (joint holder) deposited in fixed deposit of a company-In the fixed deposit application they have mentioned repayable to either or survivor. On the fixed deposit receipt given by the company it is mentioned not transferable-

Now Mr X is expired. Can Mr Y(Joint holder) ask the company to transfer deposit in the name of Mr. A(third party).

Mr Y wants to transfer the fixed deposit in the name of Mr A

Can the company transfer the fixed deposit in the name of Mr A?

regards

joseph david