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In force

The Public Debt Act, 1944

29 sections · As amended up to 2026-08

Sections

  1. 1The Act has been extended to Goa. Daman and Diu with modifications by Reg. 12 of 1962, s. 3 and the
  2. 2Definitions
  3. 3The word "and" omitted by Act 44 of 1972, s. 3 (w.e.f. 1-9-1972)
  4. 4Transferor of Government securities not liable for amount thereof
  5. 5Holding of Government securities by holders of public offices
  6. 6Notice of trust not receivable
  7. 7Persons whose title to a Government security of a deceased sole holder may be recognised by the Bank
  8. 8Right of survivors of joint holders or several payees
  9. 9Summary procedure on death of holder of Government securities not exceeding five thousand rupees face value
  10. 9BNominations by holders of Government securities
  11. 9CPayment on death of holder
  12. 10Government securities not exceeding five thousand rupees face value belonging to
  13. 11Issue of duplicate securities and of new securities on conversion, consolidation, sub-division or renewal
  14. 12Summary determination by the Bank of title to Government security in case of dispute
  15. 13Law applicable in regard to Government securities
  16. 14Recording of evidence
  17. 15Postponement of payments and registration of transfers pending the making of a vesting order
  18. 16Power of Bank to require bonds
  19. 17Publication of notices in Official Gazette
  20. 18Scope of vesting order
  21. 19Legal effect of orders made by the Bank
  22. 20Stay of proceedings on order of Court
  23. 21Cancellation by the Bank of vesting proceedings
  24. 22Discharge in respect of interest on Government securities
  25. 23Discharge in respect of bearer bonds
  26. 24Period of limitation of Government's liability in respect of interest
  27. 25Inspection of documents
  28. 26The Bank and its officers to be deemed public officers
  29. 28Power to make rules