Section 4

Transfer or of Government securities not liable for amount thereof.

The Public Debt Act, 1944

  • Act 18 of 1944
  • Ministry of Finance
  • Department of Economic Affairs
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.

All sections
    Notwithstanding anything contained in the Negotiable Instruments Act, 1881 (26 of 1881), a person shall not, by reason only of his having transferred a Government security, be liable to pay any money due either as principal or as interest thereunder.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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