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

( ACT NO. XXXVIII Of 1957 )

Effect of recognition by the Bank of a person as the holder of a Bond
14. No recognition by the Bank of a person as the holder of a Bond and no order made by the Bank under this Act shall be called in question by any Court so far as such recognition or order affect the relation of the Government or the Bank with the person recognised by the Bank as the holder of a Bond or with any person claiming an interest in such bond; and any such recognition by the Bank of any person or any order by the Bank vesting a Bond in any person shall operate to confer on that person a title to the bond subject only to a personal liability to the rightful owner of the Bond for money had and received on his account.

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