No recognition by the Bank of a person as the holder of a Government security, and no order made by the Bank under this Act shall be called in question by any Court so far as such recognition or order affects the relations of [the Government] or the Bank with the person recognised by the Bank as the holder of a Government security or with any person claiming an interest in such security, and any such recognition by the Bank of any person or any order by the Bank vesting a Government security in any person shall operate to confer on tha t person a title to the security subject only to a personal liability to the rightful owner of the security for money had and received on his account.
Section 19: Legal effect of orders made by the Bank.
The Public Debt Act, 1944Central Act · Act 18 of 1944
Where this provision sits
| Act | The Public Debt Act, 1944 |
|---|---|
| Section | 19 |
| Marginal note | Legal effect of orders made by the Bank. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted. . Subs. by s. 6, ibid., for "the Central Government" (w.e.f. 1-4-1949)
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