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THE PUBLIC DEBT ACT, 1944

(ACT NO. XVIII OF 1944).
  Part No : Chapter No : Section No: [ 22nd November, 1944  
  
     An Act to consolidate and amend the law relating to Government securities and to the management of the public debt. 1
 
    WHEREAS it is expedient to consolidate and amend the law relating to Government securities and to the management of the public debt;



It is hereby enacted as follows:-
 
CONTENTS
 
SECTIONS
 
1. Short title, extent and commencement
2. Definitions
3. Transfer of Government securities
4. Transferor of Government securities not liable for amount thereof
5. Holding of Government securities by holders of public offices
6. Notice of trust not receivable
7. Persons whose title to a Government security of a deceased sole holder may be recognised by the Bank
8. Right of survivors of joint holders or several payees
9. Summary procedure on death of holder of Government securities
10. Government securities not exceeding five thousand Taka face value belonging to minor or insane person
11. Issue of duplicate securities and of new securities on conversion, consolidation, sub-division or renewal
12. Summary determination by the Bank of title to Government security in case of dispute
13. Law applicable in regard to Government securities
14. Recording of evidence
15. Postponement of payments and registration of transfers pending the making of a vesting order
16. Power of Bank to require bonds
17. Publication of notices in official Gazette
18. Scope of vesting order
19. Legal effect of orders made by the Bank
20. Stay of proceedings on order of Court
21. Cancellation by the Bank of vesting proceedings
22. Discharge in respect of interest on Government securities
23. Discharge in respect of bearer bonds
24. Period of limitation of Government’s liability in respect of interest
25. Inspection of documents
26. The Bank and its officers to be deemed public officers 27. Penalty
27. Penalty
28. Power to make rules
29. Act X of 1920 not to apply to Government securities
 
 

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