Section Text
o) and (p) shall, as between any trustees or as between any trustees and the beneficiaries under a trust, be deemed to authorise the trustees to act otherwise than in accordance with the rules of law applying to the trust and the terms of the instrument constituting the trust, and neither the Government nor any person holding or acquiring any interest in any Government stock shall, by reason only of any entry in any register maintained by or on behalf of the Government in relation to any Government stock or any stockholder, or of anything in any document relating to Government stock, be affected with notice of any trust or of the fiduciary character of any stockholder or of any fiduciary obligation attaching to the holding of any Government stock.
(4) Rules made under this section shall be published in the Official Gazette, and shall thereupon have effect as if enacted in this Act. 1pb1. In the THE INDIAN SECURITIES ACT, 1920 , in sec. 24, sub- section (5) shall be Inserted by Delegated Legislation Provisions (Amendment) Act 1986 ( 4 of 1986) w.e.f 15-5-1986.[(5) Every rule made by the Central Government under this section shall be laid, as soon as may be after it is made, before each House of Parliament while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.
(6) Every rule made by the State Government under this section shall be laid, as soon as may be after it is made, before the State Legislature. ] Section 25 Repeals Section [ ] Rep.By the Repealing Act, 1927 (12 of 1927 ), s.2 and Sch.[ Ins.By the A.O.1937.] Section 26 Provision as to Indian Securities Section For the avoidance of doubt it is hereby declared that the rights of all persons in relation to Indian securities are to be determined, in connection with all such questions as are dealt with] by this Act in relation to Government securities, by the law [Substituted By the A.O.1950, for " of the Provinces of India ".The words " the Provinces of India " were Substituted By the A.O.1948 for " British India.] [in force in [Subs.by the Adaptation of Laws (No.3) Order, 1956, .For " Part A States and Part C States ".] [the territories to which this Act extends]. Central Bare Acts