The Government Securities Act, 2006
Central Act · Act 38 of 200636 provisions
The enactment
| Long title | An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 38 of 2006 |
| Year | 2006 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 36 |
| Subjects | financial |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title, application and commencement.
- Section 2 Definitions.
- Section 3 Forms of Government securities.
- Section 4 Subsidiary general ledger account.
- Section 5 Transfer of Government securities.
- Section 6 Holding of Government securities by holders of public offices.
- Section 7 Recognition of title to Government security of deceased sole holder or joint holders.
- Section 8 Right of survivors of joint holders or several payees.
- Section 9 Nomination by holders of Government securities.
- Section 10 Government securities belonging to minor or insane person.
- Section 11 Issue of duplicate securities and of new securities on conversion, consolidation, sub-division, renewal, stripping or reconstruction.
- Section 12 Summary determination by Bank of title to Government security in case of dispute.
- Section 13 Law applicable in regard to Government securities.
- Section 14 Postponement of payments and registration of transfers pending the making of vesting order.
- Section 15 Power of Bank to require bonds.
- Section 16 Publication of notices in Official Gazette.
- Section 17 Procedure and scope of vesting order.
- Section 18 Legal effect of orders made by Bank.
- Section 19 Stay of proceedings on order of Court.
- Section 20 Cancellation by Bank of vesting proceedings.
- Section 21 Discharge in respect of interest on Government securities.
- Section 22 Discharge in respect of bearer bonds.
- Section 23 Period of limitation of Governments’ liability in respect of interest.
- Section 24 Inspection of documents.
- Section 25 Micro films, facsimile copies of documents, magnetic tapes and computer print outs as documents of evidence.
- Section 26 Bank and its officers to be public officers.
- Section 27 Misuse of subsidiary general ledger account facility.
- Section 28 Pledge, hypothecation or lien.
- Section 29 Power to call for information, cause inspection and issue directions.
- Section 30 Contravention and penalties.
- Section 31 Certain laws not to apply to Government securities.
- Section 31A Powers of Bank not to apply to International Financial Services Centre.
- Section 32 Power to make regulations.
- Section 33 Construction of references to laws not in force in Jammu and Kashmir.
- Section 34 Power to remove difficulties.
- Section 35 Repeal and saving.
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