Section List

Act Number: 11

Act Name: The High Denomination Bank Notes (Demonetisation) Act, 1978

Year: 1978

Enactment Date: 1978-03-30

Long Title: An Act to provide in the public interest for the demonetisation of certain high denomination bank notes and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section NumberTitleActions
1 Short title, extent and commencement.
2 Definitions.
3 High denomination bank notes to cease to be legal tender.
4 Prohibition of transfer and receipt of high denomination bank notes.
5 Declaration of high denomination bank notes by banks and Government treasuries.
6 Exchange of high denomination bank notes held by banks and Government treasuries.
7 Exchange of high denomination bank notes held by other persons.
8 Exchange of notes after the time limit specified in section 7.
9 Closing of banks and Government treasuries.
10 Penalties.
11 Special provisions relating to offences.
12 Protection of action taken in good faith.
13 Removal of difficulties.
14 Power to make rules.
15 Repeal and saving.
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