Act Number: 18

Act Name: The Public Debt Act, 1944

Year: 1944

Enactment Date: 1944-11-22

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 4: Transfer or of Government securities not liable for amount thereof.
    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.
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