Section 11
Protection against attachment. Repealed
The Compulsory Deposit Scheme Act, 1963
About this Act
An Act to provide in the interest of national economic development for compulsory deposit and for the framing of a scheme in relation thereto.
(1) The amount standing to the credit of any depositor shall not
be liable to attachment under any decree or order of any court in respect of any debt or liability incurred
by the depositor.
(2) Any amount standing to the credit of a depositor at the time of his death and payable to his nominee under a scheme shall vest in the nominee and shall be free from any debt or other liability incurred by the deceased or incurred by the nominee before the death of the depositor.
(2) Any amount standing to the credit of a depositor at the time of his death and payable to his nominee under a scheme shall vest in the nominee and shall be free from any debt or other liability incurred by the deceased or incurred by the nominee before the death of the depositor.