Section 130
Receipt by joint holders for interest or dividend.
The New Delhi Municipal Council Act, 1994
About this Act
An Act to provide for the establishment of the New Delhi Municipal Council and for matters connected therewith or incidental thereto.
When two or more persons are joint
holders of any debenture or security issued under this Act, any one of such persons may give an effectual
receipt for any interest or dividend payable in respect of such debenture or security, unless notice to the
contrary has been given to the Council by the other of such persons.