The State Acquisition (Bonds) Act, 1957 (East Pakistan Act)

( ACT NO. XXXVIII OF 1957 )

[ 23rd November, 1957 ]
♣An Act to make certain provisions in connection with the issue and management of bonds mentioned in sub-section (2) of section 58 of the [* * *] State Acquisition and Tenancy Act, 1950.

 
 
 
WHEREAS sub-section (2) of section 58 of the [* * *] State Acquisition and Tenancy Act, 1950, provides for payment of compensation either in cash or in bonds or partly in cash and partly in bonds;
 
 
 
 
[* * *]
 
 
 
 
AND WHEREAS it is expedient to make certain provisions in connection with the issue and management of such bonds and payment of instalments thereunder and for other matters incidental thereto;
 
 
 
 
It is hereby enacted as follows:-
 
 
 

CONTENTS

SECTIONS

1. Short title, extent and commencement

2. Definitions

3. Form and denominations of Bonds and issue and management thereof

4. Discharge of Government from liabilities

5. Holding of Bonds in name of public office

6. Holding of Bonds as trustee or by an Office other than public office

7. Recognition of title to Bonds

8. Rights of survivors of joint holders and summary procedure in certain cases

9. Determination of person entitled to a Bond

10. Determination of rights

11. Recording of evidence

12. Suspension of payment and postponement of order and registration

13. Bank may require security

14. Effect of recognition by the Bank of a person as the holder of a Bond

15. Cancellation of proceedings

16. Bar to claiming of interest on instalment

17. Penalty for false statement

18. Power to make rules