The Government Securities Act, 2006 (Bare Act)/ Universal Law Publishing

THE GOVERNMENT SECURITIES ACT, 2006
Seclioiis 1. Short title, application and commencement
2. Definitions
3. Forms of Government securities
4. Subsidiary general ledger account
5. Transfer of Government securities
6. Holding of Government securities by holders of public offices S 7, Recognition of title to Government security of deceased sole holder or joint holders 5 8. Right of survivors of joint holders or several payees 6 9. Nomination by holders of Government securities 6 10. Government securities belonging to minor or insane person 8 n._ Issue of duplicate securities and of new securities on conversion. 8consolidation, sub-division, renewal, stripping or reconstitution 12. Summary determination by Bank of title to Goverrunent A security in case of dispute 9 13. Law applicable in regard to Government securities 9 14. Postponement of payments and registration of transfers pending the making of vesting order 9 15. Power of Bank to require bonds 9 16. Publication of notices in Official Gazette 9 17. Procedure and scope of vesting order 10 18. Legal effect of orders made by Bank 10 19. Slay of proceedings on order of Court 10 20. Cancellation by Bank of vesting proceedings 10 21. Discharge in respect of interest on Government securities 10 22. Discharge in respect of bearer bonds 10 23. Period of limitation of Government's liability in respect of interest. 11 24. Ir«pection of documents . . . 11 25. Micro films, facsimile copies of documents, magnetic tapes and computer 11print outs as documents of evidence 26. The Bank and its officers to be deemed public officers 13 27. Misuse of subsidiary general ledger account facility 13 28. Pledge, hypothecation or lien 14 29. Power to call for information, cause irwpection and issue directions 14 30. Contravention and penalties 14 31. Certain laws not to apply to Government securities 15

32. Power to make regulations . . . 15 33. Construction of references to laws not in force in Jammu and Kashmir . . 16 34. Power to remove difficulties . . . 16
35. Repeal and saving
THE GOVERNMENT SECURITIES REGULATIONS, 2007
Regulations
CHAPTER I
PRELIMINARY
1. Short title and commencenrent
2. Definitions
CHAPTER II "
FORMS AND TRANSFER OF GOVERNMENT SECURITIES AND RECOGNITION OF TITLE TO SECURITY OF DECEASED 3. Subsidiary general ledger account including a constituents' subsidiary general ledger account and bond ledger account 4. Transfer of Government securities 5. Execution of a document or endorsement by a person unable to write . 6. Recognition of title to Government security of a deceased holder .
CHAPTER III
nomination
7. Nonrination iia respect of Government securities 8. Nomination in case of minor 2j 9. Effect of nomination on renewal, etc. CHAPTER IV ISSUE OF DUPLICATE OR NEW GOVERNMENT SECURITIES 10 Procedure for issue of dupUcate Government security, etc " ' " 2I 11. Procedure when a Government promissory note .5 lost, etc. " ' _ 23 12. Loss of a bearer bond or a prize bond . 23 13. Procedure when a stock certificate is lost, etc. • '
14. Publication of list 15. Corusideration of a mutilated security for issuance of Its , 24 16. ?!rIduLir«elfn.wsecuril.e.onconv.»lo...o»^^^ sub-division and renewal CHAPTER V SUMMARY determination AND VESTING ORDER . 17 Procedure for making vesting order CHAPTER VI GR.4NT OF .NFOKMATION AND .NSPBCT.ON OF DOCUMENTS ,8. ApptoSonfo, grant o(iAfor™Uo„o,i»p.«.o„«l.«AS><. a Government security

19. Disposal of application for grant of information or inspection
20. Indemnity bond in connection with grant of information or inspection
CHAPTER VII
PLEDGE, HYPOTHECATION OR LIEN OF
GOVERNMENT SECURITY 21. Pledge, Hypothecation or Lien of Government securit)'
22. General provisions relating to pledge, hypothecation and lien
CHAPTER Via
PAYMENT OF INTEREST AND MATURITY PROCEEDS
23. Payment of interest
24. Discharge of a security
25. Disposal of securities which have been repaid, renewed, converted, etc. .
CHAPTER IX
FEES
26. Fees
FORM I.—
FORM II.—
FORM III.—
FORM IV.
FORM v.—
FORM VI.—
FORM VII.
FORM VIIL
FORMIX.—
FORMX.—
FORM XL
FORM XII.—
FORM XIII.
FORM XIV.
FORM XV.—
FORM XVI.
Subsidiary general ledger/constituents' subsidiary general ledger account details Bond ledger account details
Transfer of stock certificates Transfer of stock held in the Reserve Bank of India (RBI) in the subsidiary general ledger account (SGL) including a constituents' subsidiary general ledger account (CSGL) relating to government securities Transfer of securities held in the Reserve Bank of India (RBI) in the bond ledger accoimt relating to government securities
Nomination
Cancellation of nomination -Notification of lost (stolen, destroyed, mutilated or defaced, as the case may be) government promissory note
Endorsement for the renewal of a stock certificate
Endorsement for sub-division of a stock certificate
Endorsement for consolidation of stock certificates Security bond -Indemnity bond -Notice of pledge/hypothecation/lien of government securities Application for transfer of government securities under pledge/hypothecation/lien -Cancellation of pledge/hypothecation/lien

RELEVANT PROVISIONS
Constitution of India
The Reserve Bank of India Act, 1934
The Indian Succession Act, 1925
The Indian Contract Act, 1872
The Indian Evidence Act, 1872
The Code of Civil Procedure, 1908