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Section 2: Definitions

Public Debt Rules, 1946Central Rules · 1944

In these rules, unless there is anything repugnant in the subject or context,-

(1) “the Act” means the Public Debt Act, 1944 (XVIII of 1944).

(2) “the Bank” means the State Bank of Pakistan;

[(2-A) "The Government" in relation to any Government security means the Central or State Government issuing the security.]

(3) “District Magistrate” means every person exercising all or any of the powers of a “District Magistrate” as defined under the Code of Criminal Procedure for the time being in force;

(4) “Officer of the Bank” means the officer appointed by the State Bank of Pakistan to perform the duties under the Act;

(5) “Form” means a form as set out in the Schedule to these rules;

(6) “Public Debt Office” means the office of the State Bank of Pakistan on the books of which a Government security is registered or may be registered;

(7) “Mutilated Security” means a security which has been destroyed, torn or damaged in material parts thereof and the material parts of a security are those where-

(i) the number, loan to which it belongs and the face value of the security or payments of interest are recorded, or

(ii) the endorsement or the name of the payee is written or the transfer is executed, or

(iii) the renewal receipt is supplied;

(8) “Lost Security” means a security which has actually been lost and shall not mean a security which is in possession of some person adversely to the claimant.

(9) “Defaced Security” means a security, which has been made illegible or rendered undecipherable in material parts.

[(10) “Schedule Bank” means a bank for the time being included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934); and

(11) “Co-operative society” means a society registered or deemed to have been registered under the Co-operative Society Act, 1912 (2 of 1912) or under any other law for the time being in force relating to co-operative societies and includes a co-operative bank so registered.]

Where this provision sits

ActPublic Debt Rules, 1946
Section2
Marginal noteDefinitions
JurisdictionCentral
StatusIn force as published by the source

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