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 15: Postponement of payments and registration of transfers pending the making of a vesting order.
    Where the Bank contemplates making an order under this Act to vest a Government security in any person, the Bank may suspend payment of interest on or the maturity value of the security or postpone the making of any order under section 11 or the registration of any transfer of the security until the vesting order has been made.
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