Major Port Trusts Act : Legal effect of recognition by the Board under section 74A. Indian Bare Acts :

Major Port Trusts Act,1963

Act No : 38

Section : Legal effect of recognition by the Board under section 74A.

74B. Legal effect of recognition by the Board under section 74A. No recognition by the Board of a person as the holder of a Port Trust security or securities shall be called in question by any court so far as such recognition affects the relations of the Board with the person recognised by it as the holder of a Port Trust security or securities or with any person claiming an interest in such security or securities; and any such recognition by the Board of any person shall operate to confer on that person a title to the security or securities subject only to a personal liability to the rightful owner of the security or securities for money had and received on his account.]