High Denomination Bank Notes (Demonetisation) Act,1978 |
Act No : 11 of 1978 |
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Contents of Act: |
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SECTION( 1. ) Short title, extent and commencement. | |
SECTION( 2. ) Definition. | |
SECTION( 3. ) High denomination bank notes to cease to be legal tender. | |
SECTION( 4. ) Prohibition of transfer and receipt of high denomination bank notes. | |
SECTION( 5. ) Declaration of high denomination bank notes by banks and Governmenttreasuries. | |
SECTION( 6. ) Exchange of high denomination bank notes held by banks and governmenttreasuries. | |
SECTION( 7. ) Exchange of high denomination bank notes held by other persons. | |
SECTION( 8. ) Exchange of notes after the time limit specified in section 7. | |
SECTION( 9. ) Closing of banks and Government treasuries. | |
SECTION( 10. ) Penalties. |