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.2006
List of Chapters & Sections
All sections
1Short title, application and commencement2Definitions3Forms of Government securities4Subsidiary general ledger account5Transfer of Government securities6Holding of Government securities by holders of public offices7Recognition of title to Government security of deceased sole holder or joint holders8Right of survivors of joint holders or several payees9Nomination by holders of Government securities10Government securities belonging to minor or insane person11Issue of duplicate securities and of new securities on conversion, consolidation, sub-division, renewal, stripping or reconstruction12Summary determination by Bank of title to Government security in case of dispute13Law applicable in regard to Government securities14Postponement of payments and registration of transfers pending the making of vesting order15Power of Bank to require bonds16Publication of notices in Official Gazette17Procedure and scope of vesting order18Legal effect of orders made by Bank19Stay of proceedings on order of Court20Cancellation by Bank of vesting proceedings21Discharge in respect of interest on Government securities22Discharge in respect of bearer bonds23Period of limitation of Governments’ liability in respect of interest24Inspection of documents25Micro films, facsimile copies of documents, magnetic tapes and computer print outs as documents of evidence26Bank and its officers to be public officers27Misuse of subsidiary general ledger account facility28Pledge, hypothecation or lien29Power to call for information, cause inspection and issue directions30Contravention and penalties31Certain laws not to apply to Government securities31APowers of Bank not to apply to International Financial Services Centre32Power to make regulations33Construction of references to laws not in force in Jammu and Kashmir34Power to remove difficulties35Repeal and saving