The Government Securities Act `2006
An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto.
List of Chapters & Sections
All sections
- 1Short title, application and commencement
- 2Definitions
- 3Forms of Government securities
- 4Subsidiary general ledger account
- 5Transfer of Government securities
- 6Holding of Government securities by holders of public offices
- 7Recognition of title to Government security of deceased sole holder or joint holders
- 8Right of survivors of joint holders or several payees
- 9Nomination by holders of Government securities
- 10Government securities belonging to minor or insane person
- 11Issue of duplicate securities and of new securities on conversion, consolidation, sub-division, renewal, stripping or reconstruction
- 12Summary determination by Bank of title to Government security in case of dispute
- 13Law applicable in regard to Government securities
- 14Postponement of payments and registration of transfers pending the making of vesting order
- 15Power of Bank to require bonds
- 16Publication of notices in Official Gazette
- 17Procedure and scope of vesting order
- 18Legal effect of orders made by Bank
- 19Stay of proceedings on order of Court
- 20Cancellation by Bank of vesting proceedings
- 21Discharge in respect of interest on Government securities
- 22Discharge in respect of bearer bonds
- 23Period of limitation of Governments’ liability in respect of interest
- 24Inspection of documents
- 25Micro films, facsimile copies of documents, magnetic tapes and computer print outs as documents of evidence
- 26Bank and its officers to be public officers
- 27Misuse of subsidiary general ledger account facility
- 28Pledge, hypothecation or lien
- 29Power to call for information, cause inspection and issue directions
- 30Contravention and penalties
- 31Certain laws not to apply to Government securities
- 31APowers of Bank not to apply to International Financial Services Centre
- 32Power to make regulations
- 33Construction of references to laws not in force in Jammu and Kashmir
- 34Power to remove difficulties
- 35Repeal and saving