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Home Bare Acts Phrase: notedHigh Denomination Bank Notes (Demonetisation) Act, 1978 Section 7
Title: Exchange of High Denomination Bank Notes Held by Other Persons
State: Central
Year: 1978
.....officer thereof; and (f) where the high denomination bank note is owned by any other person, by that person or by some person competent to act on his behalf; and within the time and in the manner provided in this section. (2) Every person desiring to tender for exchange a high denomination bank note under this section shall prepare in the form set out in the Schedule three copies of a declaration signed by him giving in full the particulars required by that form and shall, not later than the 19th day of January, 1978, deliver such copies in person together with the high denomination bank notes he desires to exchange- (a) to either of the offices of the Reserve Bank at Bombay or to the sub-office, office or branch, as the case may be, of that bank at Ahmedabad, Bangalore, Bhubaneshwar, Calcutta, Gauhati, Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi and Patna; or (b) to the main office or branch of the State Bank at the head-quarters of a district; or (c) to any other office of a public sector bank notified in this behalf by the Reserve Bank: Provided that if such person resides in a place not within convenient reach of any such office or branch, or.....
View Complete Act List Judgments citing this sectionLegal Tender (Inscribed Notes) Act, 1964 Section 2
Title: Notes Bearing Messages of a Political Character Not to Be Legal Tender
State: Central
Year: 1964
Notwithstanding anything contained in the Reserve Bank of India Act, 1934, or in the Currency Ordinance, 1940, or in any other law for the time being in force, a currency note of the Government of India, a bank note issued by the Reserve Bank of India, or a Government of India one-rupee note issued under the Currency Ordinance, 1940, which bears written upon it any extrinsic words or visible representations intended to convey or capable of conveying a message of a political character, shall not be legal tender; and the Reserve Bank of India shall riot be under any legal obligation to receive any such note, or to issue rupee coin or other coin or currency notes or bank notes in exchange for any such note, or to refund the value of any such note: Provided that the Reserve Bank of India may refund as of grace the whole or part of the value of any such note.
View Complete Act List Judgments citing this sectionHigh Denomination Bank Notes (Demonetisation) Act, 1978 Section 6
Title: Exchange of High Denomination Bank Notes Held by Banks and Government Treasuries
State: Central
Year: 1978
.....equivalent amount in exchange for the high denomination bank notes declared by it in the return referred to in section 5 in bank notes or by credit to Government account. (4) Notwithstanding anything contained in sub-sections (1), (2) and (3), where the return referred to in section 5 is presented in the manner provided in the proviso to sub-section (3) of that section, the exchange referred to in this section may be effected only by the Reserve Bank at Bombay. (5) Every application for the exchange of high denomination bank notes under this section shall be accompanied by the copy of the return received under sub-section (4) of section 5 which contains the distinctive numbers of such bank notes.
View Complete Act List Judgments citing this sectionHigh Denomination Bank Notes (Demonetisation) Act, 1978 Complete Act
Title: High Denomination Bank Notes (Demonetisation) Act, 1978
State: Central
Year: 1978
Preamble1 - HIGH DENOMINATION BANK NOTES (DEMONETISATION) ACT, 1978 Section1 - Short title, extend and commencement Section2 - Definitions Section3 - High denomination bank notes to cease to be legal tender Section4 - Prohibition of transfer and receipt of high denomination bank notes Section5 - Declaration of high denomination bank notes by bank notes and Government treasuries Section6 - Exchange of high denomination bank notes held by banks and Government treasuries Section7 - Exchange of high denomination bank notes held by other persons Section8 - Exchange of notes after the time limit specified in section 7 Section9 - Closing of banks and Government treasuries Section10 - Penalties Section11 - Special provisions relating to offences Section12 - Protection of action taken in good faith Section13 - Removal of difficulties Section14 - Power to make rules Section15 - Repeal and saving ScheduleI - FORM OF DECLARATION
List Judgments citing this sectionHigh 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.....
View Complete Act List Judgments citing this sectionHigh Denomination Bank Notes (Demonetisation) Act, 1978 Section 8
Title: Exchange of Notes After the Time Limit Specified in Section 7
State: Central
Year: 1978
.....tender the notes together with the declaration required under that section to the Reserve Bank at any of the places specified in clause (a) of sub-section (2) of that section, not later than the 24th day of January, 1978 together with a statement explaining the reasons for his failure to apply within the said time limit: Provided that if such person resides in a place not within convenient reach of the sub-office, office or branch of the Reserve Bank at any of the said places or it, by reason of age, infirmity or illness, he is unable to attend thereat, he may forward the high denomination bank notes he desires to exchange together with three copies of the declaration required under section 7 by insured post to the Reserve Bank at Bombay not later than the 24th day of January, 1978, along with a statement explaining the reasons for his failure to apply within the time specified in section 7. (2) the Reserve Bank may, if satisfied after making such inquiries as it may consider necessary that the reasons for the failure to submit the notes for exchange within the time provided in section 7 are genuine, pay the value of the notes in the manner specified in sub-section (4) of.....
View Complete Act List Judgments citing this sectionHigh Denomination Bank Notes (Demonetisation) Act, 1978 Preamble 1
Title: High Denomination Bank Notes (Demonetisation) Act, 1978
State: Central
Year: 1978
THE HIGH DENOMINATION BANK NOTES (DEMONETISATION) ACT, 1978 [Act, No. 11 of 1978] [30th March 1978] PREAMBLE 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. WHEREAS the availability of high denomination bank notes facilitates the illicit transfer of money for financing transactions which are harmful to the national economy or which are for illegal purposes and it is therefore necessary in the public interest to demonetise high denomination bank notes; BE it enacted by Parliament in the Twenty-ninth Year of the Republic of India as follows:-
View Complete Act List Judgments citing this sectionPromissory Notes (Stamp) Act, 1926 [Repealed] Preamble 1
Title: Promissory Notes (Stamp) Act, 1926
State: Central
Year: 1926
THE PROMISSORY NOTES (STAMP) ACT, 1926 [Act, No. 11 of 1926] [2nd March, 1926] PREAMBLE An Act to provide for the validation of certain promissory notes. WHEREAS it is expedient to provide for the validation of certain promissory notes stamped with postage stamps of the denomination of two or four annas; It is hereby enacted as follows :--
View Complete Act List Judgments citing this sectionLegal Tender (Inscribed Notes) Act, 1964 Preamble 1
Title: Legal Tender (Inscribed Notes) Act, 1964
State: Central
Year: 1964
LEGAL TENDER (INSCRIBED NOTES) ACT, 1964 [Act, No. 28 of 1964] [30th September, 1964] PREAMBLE An Act to restrict the negotiability of currency and other notes inscribed with messages of a political character. BE it enacted by Parliament in the Fifteenth Year of the Republic of India as follows:--
View Complete Act List Judgments citing this sectionPromissory Notes (Stamp) Act, 1926 [Repealed] Section 2
Title: Validation of Certain Promissory Notes
State: Central
Year: 1926
A promissory note payable on demand for an amount exceeding two hundred and fifty rupees, executed after the 30th day of September, 1923, and before the 5th day of January, 1925, and stamped with an adhesive stamp or adhesive stamps inscribed for postage and of the value required by the law in force at the time the promissory note was executed, shall not, by reason only of the fact that the stamp or the stamps or any of them is or are of a description other than that required by such law, be deemed for any of the purposes of the Indian Stamp Act, 1899, or of the rules made there under, not to have been duly stamped.
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