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The Securities Act, 1920

( ACT NO. X OF 1920 )


Issue of duplicate securities
10.(1) When a Government security is alleged to have been lost, stolen or destroyed either wholly or in part, and a person claims to be the person to whom but for the loss, theft or destruction it would be payable, he may, on application to the prescribed authority, and on producing proof its satisfaction of the loss, theft or destruction and of the justice of the claim and on payment of the prescribed fee, if any, obtain from it an order for-
(a) the payment of interest in respect of the security said to be lost, stolen or destroyed pending the issue of a duplicate security; and
(b) the issue a duplicate security payable to the applicant.
(2) An order shall not be passed under sub-section (1) until after the issue of the prescribed notification of the loss, theft or destruction.
(3) A list of the securities in respect of which an order is passed under sub-section (1) shall be published in the prescribed manner.
(4) If at any time before the Government becomes discharged under the provisions of this Act from liability in respect of any security the whole of which is alleged to have been lost, stolen or destroyed, such security is found, any order passed in respect thereof under this section shall be cancelled.

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