Definitions

Definitions.—In this Act, unless the context otherwise requires,—

1. (a) “agent” means a scheduled bank within the meaning of clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934), or any other person specified as such;
2. (b) “Bank” means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);
3. (c) “bond ledger account” means an account with the Bank or an agent in which the Government securities are held in a dematerialised form at the credit of the holder;
4. (d) “constituents’ subsidiary general ledger account” means a subsidiary general ledger account opened and maintained with the Bank by an agent on behalf of the constituents of such agent;
5. (e) “Government”, in relation to any Government security, means the Central or State Government issuing the security;
6. (f) “Government security” means a security created and issued by the Government for the purpose of raising a public loan or for any other purpose as may be notified by the Government in the Official Gazette and having one of the forms mentioned in section 3;
7. (g) “prescribed” means prescribed by regulations made under this Act;
8. (h) “promissory note” includes a treasury bill;
   • (i) “specified” means specified by the Bank in the Official Gazette.