Section 74B
Legal effect of recognition by the Board under section 74A.
The Major Port Trusts Act, 1963
About this Act
An Act to make provision for the constitution of port authorities for certain major ports in India and to vest the administration, control and management of such ports in such authorities and for matters connected therewith.
1[74B. Legal effect of recognition by the Board under section 74A.--No recognition by the Board of
a person as the holder of a Port Trust security or securities shall be called in question by any court so far
as such recognition affects the relations of the Board with the person recognised by it as the holder of a
Port Trust security or securities or with any person claiming an interest in such security or securities; and
any such recognition by the Board of any person shall operate to confer on that person a title to the
security or securities subject only to a personal liability to the rightful owner of the security or securities
for money had and received on his account.]
Notes
1. Ins. by Act 29 of 1974, s. 26 (w.e.f. 1-2-1975).