Bare Act Search Results

Government Savings Certificates Act, 1959 Section 6

Title : Nomination by Holders of Savings Certificates

State : Central

Year : 1959

.....become entitled to the savings certificate and to be paid the sum due thereon to the exclusion of all other persons, unless the nomination is varied or cancelled in the prescribed manner. (2) Any nomination referred to in sub-section (1) shall become void if the nominee predeceases, or where there are two or more nominees all the nominees predecease, the holder of the savings certificate making the nomination. (3) Where the nominee is a minor, it shall be lawful for the holder of the savings certificate making the nomination to appoint in the prescribed manner any person to receive the sum due thereon in the event of his death during the minority of the nominee. (4) A transfer of a savings certificate made in the prescribed manner shall automatically cancel a nomination previously made: Provided that where a savings certificate is held by or on behalf of any person as a pledge or by way of security for any purpose, such holding shall not have the effect of cancelling a nomination but the right of the nominee shall be subject to the right of the person so holding it.

Post Office Cash Certificates Act, 1917 Section 3

Title : Payment on Death of Holder of Post Office 5-year Cash Certificate

State : Central

Year : 1917

.....Savings Bank and the sum for the time being due on such certificate were a deposit in such a Bank1[and as if for the words "three thousand" in2[Section 8] of the said Act the words "five thousand" were substituted] : Provided that the powers conferred by the said provisions on the Secretary of a Government Savings Bank shall be exercisable by the Post Master General for the area within which the post office of issue of such certificate is situate3[or if that area is in Pakistan, by the Postmaster-General for such area in India as the Central Government may be general or special order specify in this behalf] : Provided further that, where in any one case payment is to be made of certificates issued from more post offices than one, the said powers shall be exercisable by the Post Master General for the area in which any of the said post offices is situate. (2) Nothing in sub-section (1) shall be deemed to require any person to accept payment of the amount due on a Post Office 5-year Cash Certificate before the same has reached maturity. ________________________ 1. Inserted by the Post Office Cash Certificates (Amendment) Act, 1920 (32 of 1920), Section 3. 2......

Post Office Cash Certificates Act, 1917 Preamble 1

Title : Post Office Cash Certificates Act, 1917

State : Central

Year : 1917

THE POST OFFICE CASH CERTIFICATES ACT, 1917 [Act, 18 of 1917] [19th September, 1917] PREAMBLE An Act to restrict the transfer of Post Office 5-Year Cash Certificates and to provide for the payment of Certificates standing in the name of deceased persons. WHEREAS it is expedient to restrict the transfer of Post Office 5-year cash certificates and to provide for the payment of certificates standing in the name of deceased persons ; It is hereby enacted as follows :

Government Savings Certificates Act, 1959 Complete Act

Title : Government Savings Certificates Act, 1959

State : Central

Year : 1959

Preamble1 - GOVERNMENT SAVINGS CERTIFICATES ACT, 1959 Section1 - Short title, commencement and application Section2 - Definitions Section3 - Restrictions on transfer of savings certificates Section4 - Holdings by or on behalf of minors Section5 - Payment where certificate is held by or on behalf of a minor Section6 - Nomination by holders of savings certificates Section7 - Payment on death of holder Section8 - Payment to be a full discharge Section9 - Security for due administration Section10 - Power to administer oath Section11 - Protection of action taken in good faith Section12 - Power to make rules Section13 - Repeal and savings

Government Savings Certificates Act, 1959 Section 5

Title : Payment Where Certificate is Held by or on Behalf of a Minor

State : Central

Year : 1959

Payment of the sum for the time being due on a savings certificate held by or on behalf of a minor may be made - (a) to him personally, if he himself applied, for the savings certificate, or (b) for the use of the minor, if the application for the savings certificate was made by any person other than the minor, (i) to any such person, being a parent of the minor or guardian of his property, as may be specified in that behalf in the form of application; (ii) if no such person has been specified, to any guardian of the property of the minor appointed by a competent court, or where no such guardian has been so appointed, t6 either parent of the minor, or where neither parent is alive, to any other guardian of the minor.

Post Office Cash Certificates Act, 1917 Complete Act

Title : Post Office Cash Certificates Act, 1917

State : Central

Year : 1917

Preamble1 - POST OFFICE CASH CERTIFICATES ACT, 1917 Section1 - Short title Section2 - Prohibition of transfer of Post Office 5-year Cash Certificates without the consent of an authorised officer Section3 - Payment on death of holder of Post Office 5-year Cash Certificate

Post Office Cash Certificates Act, 1917 Section 2

Title : Prohibition of Transfer of Post Office 5-year Cash Certificates Without the Consent of an Authorised Officer

State : Central

Year : 1917

(1) Notwithstanding any provision in any enactment or any rule of law for the time being in force to the contrary, no transfer (whether made before or after commencement of this Act) of a Post Office 5-year Cash Certificate shall be valid without the previous consent in writing of1[an officer of the Post Office authorised by general or special order of the2[CentraI Governmentl in that behalf). (2) In this section "transfer" means a transfer inter vivos and does not include a transfer by operation of law. ________________________ 1. Substituted for the words "the Post Master General for the area in which the Post Office of issue is situate", by the Post Office Cash Certificates (Amendment) Act, 1920 (32 of 1920), Section 2. 2. Substituted for the words "Governor-General in Council" hy A.O., 1937.

Government Savings Certificates Act, 1959 Preamble 1

Title : Government Savings Certificates Act, 1959

State : Central

Year : 1959

GOVERNMENT SAVINGS CERTIFICATES ACT, 1959 [Act, No. 46 of 1959] [18th September, 1959] PREAMBLE An Act to make certain provisions in respect of Government Savings Certificates. BE it enacted by Parliament in the Tenth Year of the Republic of India as follows: -

Government Savings Certificates Act, 1959 Section 3

Title : Restrictions on Transfer of Savings Certificates

State : Central

Year : 1959

Notwithstanding anything contained in any law for the time being in force, no transfer, of a savings certificate, whether made before or after the commencement of this Act, shall be valid unless it has beep made with the previous consent in writing of prescribed authority.

Government Savings Certificates Act, 1959 Complete Act

State : Central

Year : 1959

.....or acquired in excess of the limit prescribed in these rules or in contravention of these rules shall be encashed by the holder as soon as the fact of the holding being in excess of the limit or in contravention of these rules is discovered and no interest shall be paid on either the excess holding or any holding in contravention of these rules : Provided that a holding shall not be considered in excess of the limit prescribed in these rules, if it is due to any of the following reasons, namely:- (a) inheritance; (b) award by the Government for meritorious services; (c) survivorship in the case of joint holdings; (d) statutory devolution; and (e) nomination. (2) If any interest has been paid on any excess holding or any holding which is in contravention of these rules, it shall be forthwith refunded to the Government, failing which, the Government shall be entitled to recover the amount involved from any money payable by the Government to the investor or as an arrear of land revenue. RULE 10 TRANSFER FROM ONE OFFICE TO ANOTHER -(1) A holder of a Single Holder Type Certificate or both its holders in the case of a Joint 'A' Type Certificate or either of the holders of a Joint.....