Bare Act Search Results

High Denomination Bank Notes (Demonetisation) Act, 1978 Section 5

Title: Declaration of High Denomination Bank Notes by Bank Notes and Government Treasuries

State: Central

Year: 1978

.....for forwarding to the Reserve Bank to the Manager of the sub-office, office or branch of the Reserve Bank at the places specified under sub-section 92) of section 7, or to the District Magistrate, or to the Sub-divisional Magistrate or, if such Manager or Magistrate is not available, to the senior-most Revenue or Police Officer available not later than 3.00 P.M.on the 17th day of January, 1976: Provided that if it is not feasible to present the return to any such person as aforesaid, it may be presented by handing two copies thereof not later than 3.00 P.M.on the 17th day of January, 1978 to a telegraph office, one copy for despatch by express telegram to the Reserve Bank at Bombay at the expense of the bank or the Government treasury, as the case may be, and the other copy for return to the person presenting it in the manner provided in sub-section (4), and by despatching the third copy required by sub-section (2( by registered post on the same day to the Reserve Bank at Bombay. (4) The officer to whom the return is presented shall give back to the person presenting it one copy thereof under his signature and seal of office in acknowledgement of receipt on which.....

High Denomination Bank Notes (Demonetisation) Act, 1978 Complete Act

State: Central

Year: 1978

.....Second Schedule to the Reserve Bank of India Act, 1934-; . (h) "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955-. SECTION 03: HIGH DENOMINATION BANK NOTES TO CEASE TO BE LEGAL TENDER On the expiry of the 16th day of January, 1978, all high denomination bank notes shall, notwithstanding anything contained in section 26 of the Reserve Bank of India Act, 1934-, cease to be legal tender in payment or on account at any place. SECTION 04: PROHIBITION OF TRANSFER AND RECEIPT OF HIGH DENOMINATION BANK NOTES Save as provided by or under this Act, no person shall, after the 16th of January, 1978, transfer to the possession of another person or receive Into his possession from another person any high denomination bank note. SECTION 05: DECLARATION OF HIGH DENOMINATION BANK NOTES BY BANKS AND GOVERNMENT TREASURIES (1) Every bank and Government treasury shall prepare and send to the Reserve Bank in the manner provided in this section a return showing separately under each denominational value the total value of high denomination bank notes of that value held by it at the close of business on the 16th day of January, 1978 and the distinctive.....