Payments to survivors of joint payees —When any debenture or

security issued under this Act is payable to two or more persons jomntly, and either or any of them dies, then, notwithstanding anything con- | tained 1n section 45 of the Indian Contract Act, 1872 (Central Act 9 of i 1872), the debenture or security shall be payable to the survivor or V survivors of such persons: :

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