Public Debt Act : Transferor of Government securities not liable for amount thereof. Indian Bare Acts

Public Debt Act,1944

Act No : 18

Section : Transferor of Government securities not liable for amount thereof.

4.Transferor of Government securities not liable for amount thereof. Notwithstanding anything contained in the Negotiable Instru- ments Act, 1881 (26 of 1881), a person shall not, by reason only of his having transferred a Government security, be liable to pay any money due either as principal or as interest thereunder.