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24/05/2024
Laws of Bangladesh

The Securities Act, 1920

( ACT NO. X OF 1920 )

DISCHARGE

Immediate discharge in certain cases
17. On payment by or on behalf of the Government to the holder of a bearer bond or other Government security payable to bearer of the amount expressed therein on or after the date when it becomes due, or on renewal of a bearer bond or other security payable to bearer under section 11, or on renewal of a Government promissory note under section 13, or on conversion, consolidation or sub-division of a bearer bond or other security payable to bearer under section 15, the Government shall be discharged in the same way and to the same extent as if such bearer bond, promissory note or other security were a promissory note payable to bearer:
 
 
Provided that, in the case of a Government promissory note renewed under section 13, nothing in this section shall deemed to bar a claim against the Government in respect of such note by any person who had no notice of the proceedings under that section, or who derives title through any such person.

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