Public Debt Act,1944
Act No : 18
Section :
Definitions.
2.Definitions. In this Act, unless there is anything repugnant in the subject or context,- (1)"the Bank" means the Reserve Bank of India; 9[(1A) "the Government" in relation to any Government security means the Central or State Government issuing the security;] --------------------------------------------------------------------- 1 Extended to Goa, Daman and Diu with modifications by Reg. 12 of 1962, s. 3 and Sch. Extended to and brought into force in Dadra and Nagar Haveli .(w.e.f. 1-7-1965) by Reg. 6 of 1963. s. 2 and Sch. I. This Act came into force in Pondicherry on 1-10-1963: vide Reg. 7 of 1963, s. 3 and Sch. 1. Extended to the whole of the Union Teritory of Lakshadweep (w.e.f. 1-10-1967). vide Reg. 8 of 1965, s. 3 and Sch. 2 The words "issued by the Central Government" omitted by Act 6 of 1949, s. 2 (w.e.f 1-4-1949). 3 Subs. by Act 57 of 1956, s. 2, for "the Union and the Part A States" (w.e.f. 15-10-1956). 4 The words and brackets "(Central Government)" omitted by Act 6 of 1949 S. 3 (w.e.f. 1-4-1949). 5 Sub-section (2) omitted by Act_57 of 1956, s. 3 (w.e.f. 15-10- 1956). 6 1st May, 1946 see Gazette of India, 1946, Pt. 1, p. 575. 7 Ins. by Act 57 of 1956, s. 4 (w.e.f. 15-10-1956). 8 Certain words omitted by Act 44 of 1972, s. 2 (w.e.f. 1-9- 1972). 9 Ins. by Act 6 of 1949, s. 4 (w.e.f. 1-4-1949). --------------------------------------------------------------------- 18 (2) "Government security" means- (a) a security, created and issued, 1*[by the Government] for the purpose of raising a public loan, and having one of the following forms, namely:- (i) stock transferable by registration in the books of the Bank ; or (ii) a promissory note payable to order ; or (iii) a bearer bond payable to bearer; or (iv) a form prescribed in this behalf; (b) any other security created and issued by 2*[the Government] in such form and for such of the purposes of this Act as may be prescribed ; (3). "prescribed" means prescribed by rules made under this Act: (4) "promissory note" includes a treasury bill.
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