Section 3. (1) Notwithstanding anything contained in the Indian Contract Act, section 45, when a Government sec

3. (1) Notwithstanding anything contained in the Indian Contract Act, section 45, when a Government security issued before the first day of April, 1886, is payable to two or more persons jointly and any of them dies, the security shall be payable to the survivor or survivors of those persons. (2) Nothing Short title and commencement. (3) This section shall apply whether the death of the person to whom the security was jointly payable occurred or occurs before or after this Act comes into force.