Section 23
Discharge in respect of bearer bonds.
About this Act
An Act to consolidate and amend the law relating to Government securities and to the management by the Reserve Bank of India of the public debt of the Government.
1[The Government] shall be discharged from
all liability on a bearer bond or on any interest coupon of such a bond on payment to the holder
of such bond or coupon on presentation on or after the date when it becomes due of the amount
expressed therein, unless before such payment an order of a Court in 2[India] has been served on
1[the Government] restraining it from making payment.
Notes
1. Subs. by Act 6 of 1949, s. 6, for "The Central Government" (w.e.f. 1-4-1949).
2. Subs. by Act 57 of 1956, s. 11, for "the States" (w.e.f. 15-10-1956).
2. Subs. by Act 57 of 1956, s. 11, for "the States" (w.e.f. 15-10-1956).