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