The Indian Securities Act, 1886, 13 of 1886, (Rep., Act 10 of 1920)

Section 8. (1) Whenever the Governor General in Council has issued, in respect of any loan, a certificate decla

Repealed or not in force · As amended up to 2026-08

8. (1) Whenever the Governor General in Council has issued, in respect of any loan, a certificate declaring the bearer thereof to be entitled to the portion of the loan therein expressed, or a coupon for any amount payable as interest on any portion of the loan, the title to the certificate or coupon may be transferred as if the certificate or coupon were a promissory note payable to bearer. (2) On payment, by or on behalf of the Government, to the bearer of the certificate or coupon, of the amount expressed therein, at or after the date on which it becomes due, the Government shall be discharged as if the certificate or coupon were a promissory note payable to bearer. Indorser of Government security not liable for amount thereof. Impression of signature on Government securities.

Source: India Code