Section 29
Certain laws not to apply to Government securities.
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[29. Certain laws not to apply to Government securities.--The Indian Securities Act, 1920
(10 of 1920), and any law corresponding to that law in force in any Part B State immediately before the
commencement of the Public Debt (Amendment) Act, 1956 (57 of 1956), shall cease to apply to
Government securities to which this Act applies and to all matters for which provision is made by this
Act :
Provided that any such corresponding law shall continue to apply to or in relation to any securities created and issued by the Government of Hyderabad, Saurashtra or Travancore -Cochin on or before the 31st day of March, 1953, for such period not exceeding one year from the commencement of the Public Debt (Amendment) Act, 1956 (57 of 1956), as the Cenral Government may, by notification in the Official Gazette, specify.]
Provided that any such corresponding law shall continue to apply to or in relation to any securities created and issued by the Government of Hyderabad, Saurashtra or Travancore -Cochin on or before the 31st day of March, 1953, for such period not exceeding one year from the commencement of the Public Debt (Amendment) Act, 1956 (57 of 1956), as the Cenral Government may, by notification in the Official Gazette, specify.]
Notes
1. Subs. by Act 57 of 1956, s. 12, for the original s. 29 (w.e.f. 15-10-1956).