The Government Securities Act, 1330 F
The Government Securities Act, 1330 F
The Government Securities Act, 1330 Fasli, regulates the administration, transfer, renewal, and duplicate issuance of government securities like promissory notes and stock certificates in Telangana. Applying to public debt investors, joint holders, heirs of deceased owners, and state officials holding securities officially, it defines legal ownership and transfer procedures. This legislation matters because it provides a secure, predictable framework for public investments, legal compliance, and dispute resolution. By establishing clear guidelines for payouts, succession, and releasing the government from liability after payments, the law protects both the state treasury and the financial assets of individual citizens who buy them.
- 1. Short title, commencement and extent.
- 2. Definition of Government securities.
- 3. Notice of trust not receivable.
- 4. Rights of survivors of joint payees.
- 5. Prohibition to make endorsement except on Government promissory note.
- 6. Transfer of Government securities to any person in his ex-officio capacity.
- 7. Endorser of Government security not liable for amount thereof.
- 8. Signature or impression of signature on Government securities.
- 9. Issue of duplicate Government securities.
- 10. Renewal of promissory notes.
- 11. Renewal of promissory notes in case of dispute as to title.
- 12. Renewal of other securities.
- 13. Issue of converted securities.
- 14. Liability in respect of renewed promissory notes.
- 15. Discharge of Government from liability.
- 16. Procedure on death of the person holding securities of the value of five thousand rupees.
- 17. Payment in case of securities in the name of minor or lunatic.
- 18. Indemnity bond.
- 19. Inspection of documents.
- 20. Penalties.
- 21. Power to make rules.
PDF: pending for this language.