Vidhi Codex

The Scheduled Securities (Hyderabad) Act,1949

The Scheduled Securities (Hyderabad) Act, 1949

Corporate19497 sections

The Scheduled Securities (Hyderabad) Act of 1949 regulates the ownership and transfer of specific government securities listed within the Act. It primarily applies to the Reserve Bank of India, the Central Government, the Government of Hyderabad, and individuals claiming rights to these financial assets. The law matters because it legally cancels any unauthorized transfers of these securities made before December 31, 1948, ensuring they are strictly owned by the Government of Hyderabad. To enforce this, the Act requires the Reserve Bank to cancel old certificates, issue duplicates directly to the government, and completely extinguishes outside legal claims.

Start reading →Read full ActSections
  1. 1. Short title.
  2. 2. Definitions.
  3. 3. Title to scheduled security not affected by previous transfers.
  4. 4. Issue of duplicate securities.
  5. 5. Bar of jurisdiction.
  6. 6. Protection of action taken in good faith.
  7. 7. Repeal of Ordinance XXXVII of 1948.

PDF: pending for this language.