Lawgist28Recovery of notes lost, stolen, mutilated or imperfect
1*** Notwithstanding anything contained in any enactment or rule of law to the contrary, no person shall of right be entitled to recover from the 2[Central Government] or the Bank, the value of any lost, stolen, mutilated or imperfect currency note of the Government of India or bank note:
Provided that the Bank may, with the previous sanction of the 2[Central Government], prescribed the circumstances in and the conditions and limitations subject to which the value of such currency notes or bank notes may be refunded as of grace and the rules made under this proviso shall be laid on the table 3*** of 4[Parliament].
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1. The brackets and figure "(1)" omitted by Act 11 of 1947, s. 15 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937.
2. Subs. by the M.O. 1937, for "G.G. in C.".
3. The words "of both Houses" omitted by the A.O. 1948.
4. Subs. by the A.O. 1950, for "the Central Legislature".
5. Sub-section (2) omitted by Act 11 of 1947, s. 15 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937.
- 20 Obligation of the Bank to transact Government business
- 20A [Omitted.]
- 21 Bank to have the right to transact Government business in India
- 21A Bank to transact Government business of States on agreement
- 21B Effect of agreements made between the Bank and certain States before the 1st November, 1956
- 22 Right to issue bank notes
- 23 Issue Department
- 24 Denominations of notes
- 25 Form of bank notes
- 26 Legal tender character of notes
- 26A Certain bank notes to cease to be legal tender
- 27 Re-issue notes
- 28 Recovery of notes lost, stolen, mutilated or imperfect
- 28A Issue of special bank notes and special one rupee notes in certain cases
- 29 Bank exempt from stamp duty on bank notes
- 30 Powers of Central Government to supersede Central Board
- 31 Issue of demand bills and notes
- 32 [Omitted.]
- 33 Assets of the Issue Department
- 34 Liabilities of Issue Department
- 35 [Omitted.]
- 36 [Omitted.]
- 37 Suspension of assets requirements as to foreign securities
- 38 Obligations of Government and the Bank in respect of rupee coin
- 39 Obligation to supply different forms of currency
- 40 Transactions in foreign exchange
- 41A [Omitted.]
- 42 Cash reserves of scheduled banks to be kept with the Bank
- 43 Publication of consolidated statement by the Bank
- 43A Protection of action taken in good faith
- 44 [Omitted.]
- 45 Appointment of agents
