Section 6: Notice of trust not receivable.

The Public Debt Act, 1944Central Act · Act 18 of 1944

(1) No notice of any trust in respect of any Government security shall be receivable by [the Government], nor shall [the Government], be bound by any such notice even though expressly given, nor shall [the Government], be regarded as a trustee in respect of any Government security.

(2) Without prejudice to the provisions of sub-section (1), the Bank may, as an act of grace and without any liability to the Bank or to [the Government], record in its books such directions by the holder of stock for the payment of interest on, or of the maturity value of, or the transfer of, or such other matters relating to, the stock as the Bank thinks fit.

Where this provision sits

Act	The Public Debt Act, 1944
Section	6
Marginal note	Notice of trust not receivable.
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, Act 6 of 1949. . Subs. by Act 6 of 1949, s. 6, for "the Central Government" (w.e.f. 1-4-1949).

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