Public Debt Act, 1944
Bare Act · 1944
An Act to consolidate and amend the law relating to Government securities 2 *** and to the management by the Reserve Bank of India of the public debt of 3 [the Government].
- Act number
- 18 of 1944
- Enacted
- 22 November 1944
- Contents
- 35 sections
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Contents
- Section 1 – Short title and commencement
- Section 1A – Securities to which this Act applies
- Section 2 – Definitions
- Section 3 – Transfer of Government securities
- Section 4 – Transfer or of Government securities not liable for amount thereof
- Section 5 – Holding of Government securities by holders of public offices (preview)
- Section 6 – Notice of trust not receivable (preview)
- Section 7 – Persons whose title to a Government security of a deceased sole holder may be recognised by the Bank (preview)
- Section 8 – Right of survivors of joint holders or several payees (preview)
- Section 9 – Summary procedure on death of holder of Government securities not exceeding five thousand rupees face value (preview)
- Section 9A – Application of sections 9B, 9C, etc (preview)
- Section 9B – Nominations by holders of Government securities (preview)
- Section 9C – Payment on death of holder (preview)
- Section 10 – Government securities not exceeding five thousand rupees face value belonging to minor or insane person (preview)
- Section 11 – Issue of duplicate securities and of new securities on conversion, consolidation, sub-division or renewal (preview)
- Section 12 – Summary determination by the Bank of title to Government security in case of dispute (preview)
- Section 13 – Law applicable in regard to Government securities (preview)
- Section 14 – Recording of evidence (preview)
- Section 15 – Postponement of payments and registration of transfers pending the making of a vesting order (preview)
- Section 16 – Power of Bank to require bonds (preview)
- Section 17 – Publication of notices in Official Gazette (preview)
- Section 18 – Scope of vesting order (preview)
- Section 19 – Legal effect of orders made by the Bank (preview)
- Section 20 – Stay of proceedings on order of Court (preview)
- Section 21 – Cancellation by the Bank of vesting proceedings (preview)
- Section 22 – Discharge in respect of interest on Government securities (preview)
- Section 23 – Discharge in respect of bearer bonds (preview)
- Section 24 – Period of limitation of Government’s liability in respect of interest (preview)
- Section 25 – Inspection of documents (preview)
- Section 26 – The Bank and its officers to be deemed public officers (preview)
- Section 27 – Penalty (preview)
- Section 28 – Power to make rules (preview)
- Section 29 – Certain laws not to apply to Government securities (preview)
- Section 30 – Construction of reference to laws not in force before 1st April, 1951 in Part B States (preview)
- Section 31 – Construction of references to laws not in force in Jammu and Kashmir (preview)