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·Para. 1] INTRODUCTORY. Madras, which are managed by the Local Head Offices of the Imperial Bank of India at those places. The general control of the administration of the public debt vests in the Controller of the Currency, who delegates part of his functions to the Deputy Controllers of the Currency in the areas over which they have jurisdiction (vide Article 2 of the Currency and Resource Manual). A substantial and important part of the work falls, however, on the district treasurics, and in view of the increased extent to which Government securities are being held by the people at large, outside the Presidency towns, the responsibilities of Treasury Officers are now considerable, and Government has to rely increasingly upon the care and attention with which they perform their duties in connection with those securities. It is mainly for the use of Treasury Officers that this Manual las been issued, and they should make themselves thoroughly conversant with the instructions contained herein, more especially with those contained in Chapters IV (Payment of Interest) and V (Endorsements on Promissory Notes), which deal with matters of direct and frequent concern to the work at treasuries. These rules are designed for the protection of- the interests both of Government and of the holders of securities; Treasury Officers' duties do not, however, end with the due and formal observance of them. They should remember that it is they, and the staffs working under them, who deal direct with the public, and that the popularity of Government securities, particularly among investors outside the large cities, is in a large measure dependent upon the expedition with which the business of those investors is put through, the absence of unnecessary formality, and, generally, the consideration with which they are treated, whenever they have occasion to visit a treasury to draw interest, or to make enquiries, or to do any other business in connection with their securities.

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·سع Para. 31 DESCRIPTION OF SECURITIES. 3. The chief characteristics and relative advantages of the above three forms of Government sccurities aro as follows: (1) Stock C'erliſicutes.--The ownership of Governmunt Stock depends, not on the possession of a stock certificate, but on the fact that the owner's name is registered in the books of the Public Debt Oflice as being the proprietor of so much stock. The sale, handing over, or endorsement of the certificate does not cliect a change of ownership, which can only be carried out by means of a transfer dced, upon execution of which the transferce's name is substituted for that of the transferor in the Public Debt books. It follows, therefore, and this is the essential characteristic of this form of public deht, that the owner of Government stock possesses a practically complete security against loss by theft, fire, etc. A stock certificate is of nu value in the hands of a wrongful holder, and the risk arising from the possession of other forms of negotiable securities is thereby avoided; while an owner of stock who loses his certificate can always obtain a fresh one by reporting to the Public Debt Office the circumstances in which the certificate has been lost. The transfer deed, execution of wbich is necessary to effect a change of ownership, is merely a printed form, copies of which are obtainable at any Public Debt Office (or the blank forin printed on the back of the certificate itself can be used for this purpose); it does not require to be stamped, and its execution involves no expense and no formality, beyond the filling up of the form and its signature, before a witness, by the two parties.

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·8 Para. 4) DESCRIPTION OF SECURITIES. t printed on the back of each note. Interest is payable at the treasury on which the note is enlaced for payment of interest, or at any subtreasury subordinate to such treasury, on presentation of the note itself. 4. In several respects, therefore, i promissory note stands mid-way between the other two forms of Governwent securities; thus, (a) As regards security against loss, a promissory note is less secure than it stock certificate but inore secure than a bearer bond. A stock cerlificate, as stated above, is of 10 value in the hands of a wrongful holder. A person who has obtained possession of a promissory note belonging to another person can use it to his advantage, but only if he is prepared to forge an endorseinent or to impersonate the rightful owner, and the rules, laid down in subsequent chapters of this Manual for dealing with promissory notes when presented at a Guvernment office, render such acts dangerous. It is however easy for the wrongful holder of a bearer bond to dispose of it readily and the only. complete safeguard against the loss of a bond by theft or misappropriation, is safe-custody. (1) On the other hand, as regards negotiability, a promissory note is negotiable somewhat more readily than a stock certificate (though only to the extent by which an endorsement by the vendor of a promissory note is simpler than the signature by both parties of the form of transfer of a stock certificate and the subsequent registration of the transfer in the books of the Public Debt Office) and less readily than

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·8 Paras. 6, 71 CURRENT RUPEE LOANS. longs, > 6. The existing rupee loans are of two kinds : (1) Those which Government has undertaken not to repay before a certain fixed date, but which are repayable at the option of Government at any time after that date, after giving notice. As there is no fixed term at the expiry of which the repayment of such loans by. Government is obligatory, they are usually known as Non- Terminable Loans. In the case of all these loans the date, before which the loan is not to be repaid, has already passed. (2) Those which Government has undertaken to repay. either («) on a certain fixed date, or (b) not earlier than a certain fixed date and not later Chan another fixed date. Such loans are called Terminable Loans. 7. The following are the loans now in existence : (1) Non-Terminable Louns. Conditions of ropayment, (Unless otherwise stated, repayment will bo mado ILlf-yearly date of puyment of interest. Nauio of loan. 16 par. { st 1. 3 por cont. loan of 1812. 1st February and 13. August. 2. 3 per 1852-55. ent. loan of 30th Juno Decombcr. and 31st 3. 3! por cent. loan of 1865 Ist day and let Novom. Ber. Ropayable at the option of Government after three wonths' notice. 4. 3) 1879 16th Jannary and 10th July. 5. 3 1896-97. 30th Juno and 31st December. G. 34 per cent. loan of 30th Juno and 31st Decem- 1900-01.! ber.

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·} 10 Paras. 9, 10] CONVERSION OR ONE FORM OF SECURITY TO ANOTHIER. CHAPTER II. CONVERSION or GoverNMENT SECURITIES FROM ONE FORM TO ANOTHER. Conversion of a different loun. 9. In the case of securities enfaced on or registered for payment of interest at Bombay or Madras, or at the treasuries situated within those Presidencies, the conversion will be effected by the Public Debt Offices, Bombay and Madras, respectively. In other cases the conversion will be effected by the Public Debt Office, Calcutta. 10. When a holder desires to convert securities of one Bcourity of ono loan into loan into another form of security of a different loan, the anothor form conversion will be subject to the rules and conditions, regarding transfers between loans, contained in Chapter III and also to the following: (i) Promissory notes of any of the 3.1 per cent. loans may be converted into stock certificates of the same or of any other 3 per cent. loan. (ii) In order to avoid unnecessary multiplication of forms, 3., per cent. bearer bonds are only issued in respect of the 1854-55 loan. Consequently, holders of stock certificates or promissory notes of any 3,} per cent. loan, who desire to convert the same into bearer bonds, will receive bonds of the 1854-55 loan. (iii) 3 per cent. bearer bonds are not issued. Consequently, stock certificates or promissory notes of the 3 per cent. loan of 1896-97, the holders of which desire to convert their securities into bearer bonds, will be converted into bearer bonds of the 31 per cent. loan of 1854-55, on the same terms as those set forth in paragraph

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·12 Paras. 13, 14) CONVERSION OF ONE FORM OF SECURITY TO ANOTIER. Conversion of promissory notos into 6ook cortificatos u bearer bands. 13. (a) A holder of promissory notes, desiring to convert his holding into stock certificates, should surrender them either at the Public Debt Office, Calcutta, Bombay or Madras, as the case may be, or at the treasury or subtreasury on which the notes have been enfaced for payment of interest. Each promissory note so tendered should be endorsed "Pay to the Governor General of India in Council." The holder will receive in exchange for the consolidated amount of such notes a stock certificate of the loan to which the notes appertain. If the notes belong to one or more of the 3.1 per cent. loans, the holder may, subject to the general conditions governing transfer between these loans, obtain a stock certificate of any other 3 per cent. loan into which transfer is admissible and into which he may desire to transfer his holding. (6) A holder of promissory notes, wishing to convert them into bearer bonds, may do so by tendering them either at the Public Debt Office, Calcutta, Bombay or Madras, as the case may be, or at the treasury or Sub-treasury on which the notes were enfaced for payment of interest, with the following endorsement:- “Received, in lieu hereof, and of notes Nos.- in the loan of of the value ofmRs. bearer bond (or bonds) of Rs. each amounting to Rs. with interest payable at Treasury." Signature of the holder or duly authorised representative, of holder. NOTE.-See the note to paragraph 11. 14. (a) Applications for conversion must in all cases applications state the number and the value of, and the loan to which belongs the stock certificate, bearer bond or promissory -a 3 Procedure for dealing with for conversion.

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·14 Paras. 16-18) PROCEDURE FOR DEALING WITH APPLICA- TIONS FOR CONVERSION. 10. (it) When stock certificates and promissory notes are tendered for couversion into bearer bonds, stock certificates, or promissory notes of the same loin, all accrued interest should be drawn before the application for conversion is admitted. In the case of bearer bonds, tendered for conversion into stock certificates or promissory notes, all unpaid coupons which are due must be paid before the application for conversion is admitted. (1) When the conversion, however, is into a different loan, the adjustments mentioned in paragraph 20' will be necessary 17. (a) When an application has been checked and is found to be in order, and all accrued interest and unpaid coupons, which are due, have been paid, the Treasury Officer will forward the application, together with the stock certificates, bearer bonds, or promissory notes, to the Public Debt Office concerned. (6) Promissory notes and bearer bonds and coupons should be despatched in a l'egistered cover without being cut and insured as of the value of Rs. 100. 18. If the Public Debt Office find everything in order, it will forward to the Treasury Officer for delivery to the applicant- (1) The stock certificates, bearer bonds, or promissory notes applied for; and (2) An interest warrant for the amount of interest due on the conversion, calculated in accordance with column 3 of the tables in paragraph 20. The Treasury Officer will deliver the former, to the applicant on his returning, duly signed, the receipt referred to in paragraph 15. An acknowledgment of the

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·16 Para. 201 ADJUSTMENT OF INTEREST İN CERTAIN CASES OU CONVERSION. (6) If the application is for stock certificates promissory note: of the loun of 1842-43 and the scouritios and interest has not been interest will bo paid and the new security aro of thio paid for the last full for that half-yoar will bear loun of half-year ending only up to intercst from 2011 Juno 31st Januury 1st Februiry. 1 1801-55 3011 December 31st July Ist August. 30th April 31st January 1st liebruary . 1605. 31st October 31st July Il sugust. 15th January 31st July 18t August. 1970. 15th July 31st January 1st l'obruary lyt l'ebruary Oli Junc 31st January 1900-01 . 3011 December 31st July Ist August. (c) If the application is for stock cortificates promissory notes of the loan of 1854-55- and the sucuritics und interest has not been interest will be paid and tho now security paid for tho last full for that half-year will bear loan of half-year ending only up to interest froin ary of tho 30th December į 31st December. . . . 18.12.13 31st January 31st July. 29th Juno 30th Junc. . 30th April 30th December 3166 December. . 1805. 31st October 29th Juno 30th Juno. . 15th January 30th December 31st Decowber. . 1879. 15th July 29th Juno 30th Juno. (cl) If the application is for stock certificates promissory notes of the loan of 1879- and the socurities and interest has not been interest will be paid and the new security are of tho paid for tho last full for that half-year will bear loan of half-year ending only up to interest from 16th January 16th January 1842-43 31st January 31st July 16th July 16th July.

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·18 Para. 21) TRANSFERS BETWEEN LOANS. CHAPTER III. Whe TRANSFERS BETWEEN LOANS. 21. Promissory notes and stock certificates of any of nt. the 3.5 per cent. loans can be transferred to any other of those loans. The conditions on which such transfer is permitted are that- (1) subject to the exceptions noted below a full halfyear's interest is duc on the stock certificate or the promissory note at the time it is presented for transfer. Einceptions.--Transfers are permitted in the following cases iudopendently of the above condition as shown below: '10 Till LOAN OY I 10 TII: LOAX OF Jol2.13. 1331-33 and 1900-01. 1603. m. 1879. 191.13 In the months of in tho months of July and Jane Jaguary, dlay, wary. | Jurie, July, Xove cmber and December, 1631-55 In all months of To the look of! In the months of thio car cacept 1900-01 at any Jay, Juno, Yor- January timo. Couler und Dc. July, ccniber. and At any time exccpt from Jlst Decem- Ver to 13th Jan. Hry and Iron oth June to 15th July. 1965 In the mouties of l'ebruary, March, Afiril, ugust, September and Qctober, In all months of the ycar except Jay, Juno, Nov. ember and Dc. cctuer, In the second fortnights of Japuary and July and w tlie monthis of l'ebruary, March, April, August, September and October. 1879 In the montis of May, Junc, Nov. ember and I)ccenber. 1900-01 . In al inontiis of the year except January July. Qud To the loan of In the months of At any timo except 1351-55 at any Jay, Junc, Nov froin 31st Decenie tinie. cniber and De ber to 15th Jancember, uary and irom 30th Juno to 15th July.

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·20 Para, 223 TRANSFERS BETWEEN LOANS. 2 (3) Interest on all 3 per cent. securities tendered for conversion, which has accrued up to the end of the preceding half-year, and has not been already drawn, will be paid in cash at the time of conversion; and the new 3 or 3 per cent. securities will bear interest from the beginning of the half-year current at the time of conversion. (1) Securities may be tendered for conversion at the Public Debt Office, Calcutta,' or at any at any other Local Head office of the Imperial Bank or at any treasury at which interest is for the time being payable. Securities so tendered must bear one of the following endorsements duly signed as the case may be :--- (a) “Received in lieu of this promissory note 3% per cent, for..... promissory noto ..and cent, promuissory noto ...... (b) “Received in lieu of this stock certificata and of a promissory noto cash payment of Rs....... 31 per cent. stock certificato promissory noto stuck certificato btock certificato 3 per stock cortificato for ............" or for..

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·22 - Para. 241 PAYMENT OF INTEREST. No. 3. Chapter 11",-Page!, pum. 2: Inser! the following as clause (ul) umder para. 24:- "In the case of interest warrant, where the value of the stock is less tiran Rs. 100, which have remained cashed for three months at the treasury or sub-ticasiis, the Treasury or the Sub-treasury Olliver should reinit the anjurint thereof in the registerre holder ly money unler without deduction of commission. The money oriler acknowledgment signed by the recipient should be attached to or justed on the interest warrant itself for the Piirpas of ulit. In all other cases the y.Pocilure at clause o abore should be followed. (1st lint ni cornetinis, dlated th: 30th Jud. !992.) ut v. 1.11LCICOU TIeu vrea Warrants (Form 3). (h) Tf the warrant is navable at a sub-ll'casury sub- No. 2. - Page :22, paragraph 24- Insert the following as il new sub-pizragraph under paragraph 24 :- At places where a branch of the Imperial Bank of India conlucts Government treasury business, the following procedure will be observed insteal of that laid down in the above rules. The Public Dept Offices will issue the warrants direct to the branch of the Bauk for payment there, without the intervention of the Treasury Oficer (except in cases where in accordance with the wishes of the proprietor of the stock, the warrant is to be sent to him or his agent by punt, in accordance with the last sentence of paragraph 23) and will also send advice lists direct to the branch of the Bank. The agent of the branch of the Bank will arrange for the subsequent payment and disposal of all warrauts. He will be responsible for paying the interest due on the warrant to the proprietors of the stock certificates and debiting the Government account with the amount. The debits in the daily sheet sent by the branch of the Bank to the treasury will be supported by the paid warrants. (ird list of corrections, datel the 21st September 1928.) Whenever an interest warrant is issued by the Public Debt Office, either to a treasury direct or to the proprietor of the stock, advices are sent to the Treasury Officer concerned. In the case of a warrant payable at a sub-treasury, the Treasury Officer should at once send intimation

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·24 Paras. 26, 27) PROCEDURE AT TREASURIES FOR PAYMENT OF INTEREST. subsequently desire the coupons to be made payable at a different treasury, within the sphere of the same Publio Debt Office, transfer of registration will be permitted on application being made therefor. (6) The domicile of a bond may be transferred froin one Public Debt Office to another, on application (which may be made direct or through the Treasury Officer concerned) either to the Public Debt Office on whose books the bond stands, or to the Public Debt Office to which it is desired to transfer it. Thereafter, the coupons will be payable at the latter Public Debt Office, or, at the holder's option; at any treasury subordinate thereto which he may select. (c) Notwithstanding any arrangement made under the preceding paragraphs, payment of coupons on due date will never be refused at the Public Debt Office of domicile, even though the bond to which they belong may be registered for payment of coupons at a treasury.. 27. The following particulars are printed on each coupon: (a) The loan to which the bond relates; (6) The amount of interest due on the coupon; (C) The number of the half-yearly dividend; (V) The amount of the bond; (e) The date on which the coupon is due for payment; (1) The number of the bond to which the coupons relate, The above particulars are sufficient to identify completely the bond to which the coupon appertains, and the production of the bond itself is therefore not required. Before paying a coupon, the Treasury Officer has to satisfy. himself on two points only : (1) That the bond to which the coupon belongs is registered for payment of coupons at his treasury: Procoduro at Troasurics.

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·26 Paras. 29, 30] PROCEDURE AT TREASURILS FOR PAYMENT OF INTEREST. coupons aro payablo ita treasury register in Form 5 a separate section being set apart for each loan. On receipt of advice from the Public Debt Ollice of the registration of a bond or bonds for payment of coupons at his treasury, the Treasury Officer should át once mako, the necessary entries in columns 2, 3, 4, and 5 of the register, a serial number being also added in column 1 for each bond. Whenever coupons are paid, the Treasury Ollicer should make the necessary entry in the relevant column under " Particulars of coupons paid,” stating the half-year or half-ycars and the number or numbers of the dividend shown in the coupons and the date of payment of coupons. The fact of payment should also be recorded in the register maintained in Form 6 from which register a schedule should be copied to accompany the list of payments and the coupons for submission to the Accounts Office. When coupons relating to a boud registered at a treasury are paid it the Public Debt Office of domicile [vide paragraph 26 (c) above), the Public Debt Office will. send immediate advice of such payment to the Treasury Offcer concerned, and on receipt of such advice the fact should at once be noted in the register of bonds in the proper sub-column under column 7. On receipt of advice of cancellation of a bond registered for local payment of coupons, the necessary particulars should be entered in the column 8 of Form No.5 and the entry cancelled. 30. (a) At the close of each year every Treasury Officer should make a return in Form 7, giving details of bonds remaining on his rarioton fou noumont of an Presi- No 6. ld be Paragraph 30(6), (page 26) --- dras, Read " the areas under the jurisdiction ld be. trollers of the Currency” for “the Presider (4th list of corrections, a

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·28 No 7. Paragraph 32 (c), (puges 27-28) as amended by the first list of COrrctions, dutel 30th June 1922- No. 8. Paragraph 3:2 (e). (pages 27-28) as amended by the first list of corrections, dated 3011 June 1922 Omit "o" aller "instructions.'' (11lı list of corrections, dated the 2ml Jarch 1926.) (NIU IUI“Palil uuu lor making ro. onfacemonts. uupunctuu wUUVIVIR "rum . ing advice from the Public Debt Office of the enfacement of a note for the payment of interest at his treasury or a sub-treasury subordinate thereto, the Treasury Officer will make the requisite entry in columns 2, 3, 4, 5 and 6 of this register. A serial number should be given to each note in column 1 of the register, and this serial number should be noted on the note itself when presented for payment of interest at the treasury for facility of future reference. If the note is enfaced for payment of interest at a subtreasury, the Treasury Officer will follow the procedure stated in paragraph 38 (c). (6) Whenever interest on any note entered in this register remains undrawn for 10 years or more, the note should be struck off the register, the reason for doing so being recorded in column 10 of the register. This fact should be noted in the annual return submitted by treasuries to the Public Debt Ollice, Calcutta, under paragraph 34. (c) On receipt of advice from the Public Debt 'Office of cancellation of an enfacement, or after himself making a re-enfacement under clause (c) of paragraph 32, the Treasury Officer will at once delete the entry relating to the enfacement and will not thereafter pay interest on such pote,

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·30 Paras. 35, 36] CONDITIONS TOR PAYMENT OF INTEREST AT TREASURIES. by those treasuries which have no notes enfaced for payment of interest at them. No in Paymont of 35. Government is responsible for the payment of intorcst at troasurios: interest to the actual owner of a note. As the ownership Trcasury of a note is transferable by mere endorsement, it is of Odlicor's rog. ponsibilities, great importance that, before paying interest, Treasury Officers should scrutinise endorsements carefully, in order to satisfy themselves that the person by whom, or on whose behalf, payment of interest is claimed, is the lawful owner of the note. It is not merely the last endorsement which needs scrutiny; the note may have changed ownership several times, and although the last endorsement may itself be in proper form, and the last endorsee's title good as against that of the next preceding owner, the latter's title some legal defect in prs should therefore. Purugruph 35, (page 301) down in clauses (2) endorsements are in In line 21 after Chapter V« Government officers 6. If however in the chain of enc ties in their official favour of the Imperial Bank of 1 Deputy Controller of the Currency, ar. es with the main Assistant or an Assistant Accounts kinds of endorsesubsequent endorsement purports to doubtful cases, or endorsements up to that stage inay enquiry." y covered by these ise to pay interest, (4th liste Debt Office. Conditions to 36. Payment at a treasurya sť upon promissory be fulfilled before notes is subject to the following conditions : interest can be paid at & (1) That the note has been duly enfaced for payment treasury. of interest at that treasury; (2) That the person to whose receipt, or to whose agent's receipt, payment is asked for, is either the person in whose name the note was originally

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·32 Para, 36] OF INTEREST AP CONDITIONS FOR PAYMENT TREASURIES. No. 12. Paragraph 36, (page 32) effler nole (iv) insert as (v) and renumber the existing note (0) as (vi) :- "Il condition (7) is not fulfilled, the Treasury Oficer shond inform the presenter that interest cannot be paid is a stop has been recorded : ainst the note and refer the presenter to the Public Debt Oflice. If the parenter no desirez, thiy Treasury Ollicer should forward thio note to the Public Debt Olice on his behalf." (Ith list of corrections, dated the 2nd March 1926.) OLA (v) When uotes stand in the name of a minor or a lunalic. who is incapable of "... No. 13. Paragraph 36, (page 32) da to note (vi) (2) as renumbered at the end of the note:- " In the case of : minor the certiticates should starte the date on which the minor will attain majority." (4th list of correctious, dated the 2nd March 1926.) "Avsullum question, 50^-1011goastlic ofīčer paying the interest is satisfied as to the identity of the father or mother. In the case of payment at a place other than that at which such minor or lunatic and his father or mother ordinarily resides, a certificate of identity signed by any Magistrate may be accepted. (3) When the applicant for interest is neither the father nor the mother and when the value of the notes standing in the minor or lunatic's pame does not exceed Rs. 5,000, a certificate hy the District Magistrate of the district in which the interest on the securities is payable, to the effect that the applicant is the actual guardian of the minor or lunatic, should be accepted. www

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·34 Paras, 37, 38] METILOD OF PAYMENT OF INTEREST. receipt is a valid quittance, i.e., has been signed by the person to whom payment is due, or by a duly authorised agent. (d) The Treasury Officer should record the fact of payment as follows :- (i) In the interest cage (printed on the back of the note) appertaining to the half-year on account of which interest is paid he should record the name of the Treasury and date of payment oyer his initials; (ii) In column 8 of the register of enfaced notes referred to in paragraph 33 above (Form 1); (iii) In a register in Form 14, subordinate to the cash book. From this register is copied a schedule which, with receipts attached, should accommany the list of navmants forwarded hi-monthly No. 7. Chapter 1P .- Page 33, para. 3.1- Idd the following in continuation of clause (@) under para, 37:- Treasury Officers at the time of payment of interest on such Notes should issue to the holder of the Note a certificate as presoribed in section 18, clauses (3) and (9) of the Income-tax Act (ilet XI of 1922) in Form 30 showing llat income-lax has been deducted at the maximum rate (to be specified) and the annount so deducted." (1st list of currectious, dated the 30th Juno 1922.) should be carefully filled in. Experience has shown that inattention to this causes much' unnecessary correspondence with the Public Debt Office, Payment of interest at ies. 38. (a) When a note is en faced for payment of interest sub-treasur. at a treasury and the holder desires interest to be paid at a sub-treasury subordinate thereto, or when a note is enfaced for payment of interest at a sub-treasury and the holder desires interest to be paid at the district treasury

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·36 Para. 38] METHOD OF PAYMENT OF INTEREST. (e) On receipt of the voucher in the treasury it will be examined to see that it is in order and that the details of the note correspond with those entered in the register of enfaced noles and the payment will then be recorded in the register of promissory notes and in the register of interest payments (Forms 9 and 14). () If the Sub-treasury Officer finds that the ownership of a note, presented for payment of interest, has changed and if he has not l'eceived a fresh authorisation No. 17. Page 36 Add paragraph 38A :- “If a party makes a claim at a Treasury in respecto a lovernment Profor payment No. 16, be required sury Ollicer ray, in the tragraph 38, (page 36)- an entry forward tlic hllowed to ddd (g) :- t. “If any stop notice is received by a Treasury Officer in res, interest on which is payable at a sub-treasury, he should in founda- Treasury Officer immediately. The latter should record i stop bote. In number of the note in Form 15. and on presentation of the note in the of interest he should forward the note to the Treasury Officer, graph 2 follow the procedure indicated in paragraph :30 (») above." buld be (4th list of corrections, dated the 2nd March shown Stop notices should be filed together and given serial numbers. On the wave being presented at the Treasury, the Treasury Officer will forward it, with any statement which the presenter wishes to make, to the Public Debt Office for disposal. (3) When a loan is due for discharge as described in Chapter VII or Government offers to convert it into some other loan, the Public Debt Office prepares a consolidated list of notes which have been stop, ed. Immediately on receipt of this list, the Treasury Officer should examine it to see if the stops recorded in the list corespond with those recorded at the Treasury. Any omissions or discrepancies should be reported at once to the Public Debt Office." (4th list of corrections, dated the 2nd March 1926.)

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·39 Para. 41) DIFFERENT FORMS OF ENDORSEMENT. Valid fornus of ondorsomont. presenter is clear and indisputable. The rules in this chapter will show what endorsements can be accepted without question and those which should not be recognised. 41. An endorsement consists of two parts, viz., (1) the pay order, containing the name of the endorsee, and (2) the signature of the endorser. It will be convenient to consider these separately. The pay-order should be worded in one of the following ways: (1) “Pay to A.” (2) “Pay to A or order." (3) “Pay to A and B, jointly." (4) “Pay to A and B or their joint order." (5) “Pay to A or B." (6) “ Pay to A or B, or order.' (7) “Pay to A and B or either of them." (8) “Pay to A and B or either of them or order." (9) “Pay to A, B, C, D and E or to any one (or more) of them. (10) “Pay to A, B, C, D and E or to any one (or more) of them or order." And the signature should in each case be that of the person or persons legally qualified to dispose of the note, as described in the succeeding paragraphs. If the last endorsement on the note is blank, i.e., although the signature has been made and is in order, the pay order itself has been left blank, the note should not be received, and the presenter should be told to get the name or names filled in. If an endorsement is not worded exactly as above, but obviously conveys the sense of one of these standard forms of endorsement, it may be recognised. For example, the substitution of "Endorsed," “ Transferred ” Sold” for the word “Pay” or the substitution of “any” for “either” in Nos. (7) and (8) or the addition of the words “or survivor" in Nos. (3) to (10) do not make the endorsement invalid or

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·40. Para. 42] PROCEDURE FOR DEALING WITII VARIOUS FORMS OR ENDORSEMENT. and so on, and objections should not be raised increly on that account. If the signature is that of a woman, attention should be paid to the instructions laid down in paragraph 51. (6) If the note is not endorsed by A himself, (or in the case of a person unable to write by a Magistrate on his behalf in accordance with paragraph 52) the endorsement is valid only if the signature is that of a person who has the legal right to dispose of the note on behalf of A or A's estate. Thus, the signature may be that of A's guardian, heir, executor, or attorney or the administrator of his estate. In all such cases it is necessary to see that such person's claim to act in such capacity is valid. Instructions as to the steps which must be taken, and the documents which must be produced, before Treasury Officers should accept endorsements by such persons, are given in paragraphs 47 to 50. (2) Joint endorsements.—Except as stated below, the signature of each of the joint-holders is necessary, and in respect of each such signature the same precautions should be taken as laid down above for simple endorsements. If, however, one of the joint-holders dies, then, under section 4 of the Indian Securities Act, the right to dispose of the note lapses to the survivor or survivors, and in that case an endorsement by such survivor or survivors, as the case may be, will be recognised, provided satisfactory proof of death has been produced. Treasury Officers are responsible for satisfying themselves that the fact of death is properly established, either in the shape of a solemn affidavit or affirmation of the knowledge of such decease, made by respectable and uninterested parties before a Justice of the Feace or other judicial officer, or in the shape of a burial certificate, copied from the usual register and attested by the proper authority, or a certificate of death. When produced, such proof should be registered, and entry made on the note,

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·1 42 Para. 43] PROCEDURE FOR DEALING WITH VARIOUS FORMS OF ENDORSEMENT. The general rule in such cases is to disregard entirely the designation added after the name, and to treat the note in all respects as if it were the personal property of A. Government does not undertake the responsibility of making an enquiry as to who is the person actually holding the office or position so described, and if any person, other than A claims to be qualified to dispose of the note, not as A's heir executor, or personal representative, but as being A': successor in such office or position, his claim should not be entertained. In such cases the proper thing for A to do, on vacating his office, is to transfer the note, by a personal endorsement in favour of his successor. To this rule. however there are twn avnantirinc Nc, 18. Two Paragraphs 43. II, (pages 1.2--13), sub-parugraph under exception (ii) Delete the words "For example, if a note”, etc., to the end, and add : Administrators and executors of the estate of a deceased person to which it Government Promissory note belongs have an exceptional status which is defined in section 3 (2) of the Act. They are considered as representing the deceased only to the extent that they can give a title to the note but they do not possess this title themselves. If, then, a note stands in the name of a deceased person or has been endorsed “Pay to A, executor of B,” or “ Pay to A, administrator of B's estate, no payment of interest should be made nor any other transaction recognised until the title has been completed by an endorsement by the executor or administrator. Such executor or administrator should be told to endorse the note either in favour of himself in his personal name without the addition of any qualifying description, or of some other party, signing himself as executor or administrator, and to produce the necessary documents establishing his claim to dispose of B's property, as laid down in paragraphs 47 to 50. Note (2).-There are certain notes outstanding which either stand registered or have been endorsed by the Public Debt Office or the Controller' of the Currency in favour of parties described as administrator or executor. The issue of such notes is being discontinued ; but where they have been issued, interest may be paid to the party so described. Negotiation, however, will only be recognised in the manner described in this paragraph ; and when the interest cages are exhausted, the renewed note will only be issued after the oission of any word indicating administration or oxecutorship. Note (ii).-Same as in the note below sub-paragraph (2) of old paragraph 43. 'II which should be renumbered as note (ii)." (4th list of corrections, dated the 2nd March 1928.)

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·1 42 Para. 43] PROCEDURE FOR DEALING WITH VARIOUS FORMS OF ENDORSEMENT. The general rule in such cases is to disregard entirel the designation added after the name, and to treat the not in all respects as if it were the personal property of A Government does not undertake the responsibility of makin an enquiry as to who is the person actually holding the offic or position so described, and if any person, other than A claims to be qualified to dispose of the note, not as A's hei executor, or personal representative, but as being A successor in such office or position, his claim should not k entertained. In such cases the proper thing for A to do, on vacatin his office, is to transfer the note, by a personal endorsemer in favour of his successor. To this rule. however there are tin avonntinna . Nc. 18. Two Paragraphs 43. II, (pages 42-43), sub-parugraph under exception (ii) - Delete the words “For example, if a note", etc., to the end, and add :- “Administrators and executors of the estate of a deceased person to which a Government Promissory note belongs have an exceptional status which is defined in section 3 (2) of the Act. They are considered as representing the deceased only to the extent that they can give a title to the note but they do not possess this title themselves. "If, then, a note stands in the name of a deceased person or has been endorsed “Pay to A, executor of B,” or “Pay to A, administrator of B's estate,” no payment of interest should be made nor any other transaction recognised until the title has been completed by an endorsement by the executor or administrator. Such executor or administrator should be told to endorse the note either in favour of himself in his personal name without the addition of any qualifying description, or of some other party, signing himself as executor or administrator, and to produce the necessary documents establishing his claim to dispose of B's property, as laid down in paragraphs 47 to 50. 1 NOTE (*).-- There are certain notes outstanding which either stand registered or have been endorsed by the Public Debt Office or the Controller' of the Currency in favour of parties described as administrator or executor. The issue of such notes is being discontinued ; but where they have been issued, interest may be paid to the party so described. Negotiation, however, will only be recognised in the manner described in this paragraph; and when the interest cages are exhausted, the renewed note will only be issued after the omission of any word indicating administration or executorship. Note (ii).-Same as in the note below sub-paragraph (2) of old paragraph 43. II which should be renumbered as note (ii)." (4th list of corrections, dated the 2nd March 1926.)

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·44 Para. 45] PROCEDURE FOR DEALING WITH ENDORSEMENTS BY A BODY CORPORATE OR AN OFFICE HOLDER. Treasury and other officers should have no difficulty in ascertaining that the endorsement is signed by the person properly qualified to do so, but in all cases of new banks, or wherever there is any doubt, a reference should be made to the Public Debt Office. (2) Other Bodies corporate. A promissory note may be held and negotiated by any body corporate with perpetual succession and a common seal. In such cases it is necessary to refer to the articles of association, or law, governing the constitution of the body, in order to see who is the person legally qualified to transfer notes which are the property of the body in question. In practice such an enquiry raises so many difficult questions, such as the wording of the Act, bye-laws, etc., by which the public body or corporation is governed, that great caution should be exercised regarding securities so held. When the corporation is an oldestablished body, such as a Port Trust, Municipality, etc., the question as to the office-bearer qualified to sign endorsements on its behalf will have been long settled, and will he generally known. But in all other cases, and particularly when the body is new or is little known (e.g., if a note stands in the name of such a body as “The Society for the promotion of widow re-marriage") a reference should be made to the Public Debt Office. (3) Office holders. Subject to the important exception mentioned below, an endorsement in favour of an officeholder (e.g., "Pay to the Secretary of the Budgepur Dispensary”) should not be recognised. Government does not accept the responsibility for being put on enquiry as to who is the actual holder of office at the time. The exception to this rule is the case of the holders of certain Government offices and offices in Indian States and Ceylon, the names of which are given in Appendix III. In such cases a note may be validly endorsed to or by the holder of the office for the time being.

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·46 Para. 47] DOCUMENTS NECESSARY TO ESTABLISH CLAIMS TO DEAL WITH NOTES BY A PERSON OTHER THAN THE LAST ENDORSEE. Production and a claim to deal with ondorseo. No. es on promissory in any case, the Paragraph 46 note (page 46) person concerned s Act (Appendix After “Bombay" in the 9th 1 ted in the name Deputy Controller of the Currency be addressed to with by the Public Debt Office, N of the Currency, th by the Public (ith list of çill be passed by the controlier VI TUO vurrency. 47. In paragraph 42 (1) (b) it was pointed out that, if registration à note is endorsed by some person other than the last to establish endorsee, the endorsement is valid only if the signature is that of a person who has a legal right to dispose of the note notes by a on behalf of the last endorsee or of the latter's estate, and Einn the last that documents must be produced to prove that such person has that right. The following documents are necessary when the claim is to deal with a note in the capacity of (1) Heir A Succession Certificate granted under one of the Succession Certificate Acts, viz., Act XXVII of 1860 (since repealed) or Act VII of 1889. (2) Executor or Administrator.Probate or Letters of Administration, granted by a competent Court under the provisions of the Indian Succession Act (Act X of 1865), or the Probate and Administration Act (Act 7 of 1881). NOTE. In the following cases the person having the right to deal in promissory notes standing in the name of a deceased person may in certain circunstances obtain renewal of the notes in acord. ance with paragraph 60 without going to the expense and trouble of obtaining any of the documents mentioned above :- (a) If the deceased holder was a member of a Hindu undivider family governed by the Mitakshara law. (6) If the face value of the securities held by the deceased pei son does not in the aggregate exceed Rs. 5,000,

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·. 48 Paras. 48-503 DOCUMENTS NECESSARY TO ESTABLISH CLAIMS TO DEAL WITH NOTES BY A PERSON OTHER THAN THE LAST ENDORSEE, and thoso convoying limited powers. Other documents, the person in question to the drawal of interest, and it is important that Treasury Officers should carefully distinguish between those documents which confer an unlimited power to deal with the securities, and those in which the power is limited to the realisation of interest. 49. Besides the above-mentioned documents, other documients are frequently produced before Treasury Officers in connection with promissory notes. Such are :- (1) Documents relating to the proof of death of a jointholder [vide paragraph 42 (2)]. (2) Certificate of incorporation of a body corporate, or Articles of Association, or similar documents (vide paragraph 45). (3) Certificate of marriage. This may sometimes be necessary, when a note, which has been endorsed in favour of a woman before her marriage, is subsequently re-endorsed by her in her married name. Treasury procedure in registering doouments. All such documents should also be registered similarly to those mentioned in paragraph 47. 60. For this purpose the Treasury Officer will maintain a register in Form No. 16, and in registering a document, he should observe the following instructions :- (1) Two names have to be entered, viz., (a) in the column “Name of Principal” the name of the person whose property is concerned, and (b) in the column “To whom granted” the name of the person to whom the document has been issued. (2) Separate pages should be reserved for separate initials, the initial being in each case that of the surname of the "principal.” The entries -

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·50 Paras. 50, 51] TREASURY PROCEDURE FOR REGISTERING DOCUMENTS. issued by a competent court, should, however, even when insufficiently stamped, be registered and acted upon, the fact that the document was insufficiently stamped being brought to the notice of the court concerned. In considering whether any document document is sufficiently stamped, the Treasury Officers should remember (1) That the stamp duty on a document entitling the holder merely to draw interest is calculated on the amount of the securities in question, and not on the interest annually drawable. (2) That powers-of-attorney, granted by a number of persons, having separate and distinct interests in the acts to be performed under such powers, must be stamped to a 'value equal to the aggregate amount of duty which would have to be paid if each person had executed a separate power. (3) That, notwithstanding anything said above, a power-of-attorney, or any other written authority, authorising one or more of the joint-holders of a note to give a valid discharge for interest, is exempt from stamp duty. 51. If an endorsement is signed by a woman, and the signature is in English, it will ordinarily be sufficient to adopt the same precautions as in the case of an endorsement by a man; though if a note, which has been endorsed to a woman before her marriage, is subsequently re-endorsed by her in her married name, it may sometimes be necessary, unless the Treasury Officer is satisfied that she is the actual person named in the previous endorsement, to require a certificate or other proof of marriage [vide paragraph 49 (3)]. If the endorsement is in a vernacular, and if the woman goes out in public, she should be asked to come to Endorse ments by women, --

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·52 Para. 531 COUNTERPART NOTES. interests of owners who were not in a position to deal with their property themselves. Thus, when a note was the property of a minor unrepresented by any person having power to negotiate it, i.e., the powers of whose guardian wera limited to the drawal of interest, or which belonged to an cstate in which administration was limited to interest, the Public Debt Office, upon such note being deposited with it, issued to the holder a counterpart, having the words counterpart not negotiable” stamped across the face, and further payments of interest have been recorded upon such counterpart. Whenever such a note ceases to be the property of the minor, or ceases to belong to an estate in which administration is limited to interest, the further payment of interest in respect of the note will be refused, until the first or any subsequent counterpart (as the case may be) issued in respect of it has been receipted and renewed. Upon such counterpart being receipted, and a new note having been issued in favour of the new owner, the counterpart, together with the original note and any preceding counterpart issued in respect thereof, will be cancelled. The issue of counterpart notes has now ceased, cases of the nature specified above being dealt with in accordance with paragraph 98. for Indian States. (2) Special Notes for Indian States (vide Rule 38 Appendix II). Special notes These are issued to Indian Chiefs, in order to make available to them certain special privileges, viz.:- (a) The notes, being issued in the name of the Chief and his successors, devolve by mere succession to the Raj, without legal administration, or other, formality; (6) Interest' upon these notes is exempt from income tax and super-tax. !!

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·. 54 Paras. 54-57) RENEWAL OF SECURITILS. CHAPTER VI. .. RENEWAL OF SECURITILS. 54. The rules in this chapter deal with the issue to holders of new securities in exchange for their existing ones; they do not refer to the issue of duplicate securities to replace those which have been lost or destroyed, rules regarding which will be found in paragraph 99. 55. From the description of stock certificates already given it will be seen that in their case no question of renewal arises, for the document is, as its name implies, merely a certificate and when the ownership of the stock passes to another person, a new certificate is issued in the latter's certificates. name, Bearer bonds 56. In the case of bearer bonds renewal is only necessary, and is only permitted, upon exhaustion of the coupons attached to the bond, in which case application should be made to the Public Debt Office of domicile or to the treasury on which the bond is registered for payment of coupons, the bond being presented with the application. When a bearer hond is presented at a treasury for renewal the Treasury Officer should, after verifying that the coupons are exhausted, forward the bond, together with the application (which may be in any form) to the Public Debt Office concerned. He should grant the presenter a receipt in Form 17 and forward the bond to the Public Debt Office, without cutting it, insuring it as of the value of Rs. 100. A register should be maintained in Form 2 for watching the disposal of all such bonds. NOTE.-No fee is payable in respect of the renewal of a bearer bond. Promissory notes. 57. In the case of promissory notes renewal may be either optional or compulsory; in either case it is of con-

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·--- 56 Para. 59] WHEN RENEWAL IS NECESSARY. When ronoval is necessary. have the title to such notes tested by the Public Debt Office by requiring the holder to apply for renewal. 59. The rules in previous chapters will have indicated the cases in which the holder of a note should be required to receipt it for renewal. Such cases are for convenience brought together and enumerated below:- (1) If only sufficient room remains on the bacs of the note for one further endorsement, or when any word or words is or are written upon the note across any existing endorsement or endorsements. (2) If the note is crowded with writing, or torn, in any way damaged or defective, or unfit in the opinion of the officer before whom it is produced for payment of interest or for receiving endorsement. (3) If the note bears an endorsement which is not in one of the forms enumerated in paragraph 41, or the signature to which is not that of the person or persons mentioned in paragraphs 42 to 45 inclusive as being qualified legally to transfer the note. (4) If the note having been enfaced three times for payment of interest is presented for re-enfacement, (5) If the endorsements are not clear and distinct, or if there is any endorsement made otherwise than in one of the endorsement cages on the back of the note. (6) If the note in question is a Counterpart Note (see paragraph 53) and the Treasury Officer has received information that it has ceased to be the property of a minor, or tobelong to an estate in which administration is limited to interest. A

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·1 56 1 Para. 59] WIIEN RENEWAL IS NECESSARY. Vhen onoval is tecessary. have the title to such notes tested by the Public Debt Office by requiring the holder to apply for renewal, 59. The rules in previous chapters will have indicated the cases in which the holder of a note should be required to receipt it for renewal. Such cases are for convenience brought together and enumerated below :- (1) If only sufficient room remains on the basi of the note for one further endorsement, or when any word or words is or are written upon the note across any existing endorsement or endorsements. (2) If the note is crowded with writing, or torn, in any way damaged or defective, or unfit in the opinion of the officer before whom it is produced for payment of interest or for receiving endorsement. (3) If the note bears an endorsement which is not in one of the forms enumerated in paragraph 41, or the signature to which is not that of the person or persons mentioned in paragraphs 42. to 45 inclusive as being qualified legally to transfer the note, (4) If the note having been enfaced three times for payment of interest is presented for re-enfacement, (5) If the endorsements are not clear and distinct, or if there is any endorsement made otherwise than in one of the endorsement cages on the back of the note. (6) If the note in question is a Counterpart Note (see paragraph 53) and the Treasury Officer has received information that it has ceased to be the property of a minor, or to belong to an estate in which administration is limited to interest,

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·1 58 Paras. 60, 61) RENEWAL BY HEIRS OF DECEASED HOLDERS. ficate Act have not been obtained within this period, the person claiming to be his heir should be directed to apply to the District Magistrate for a certificate that he is the heir of the deceased. If after enquiry in the manner provided in sub-sections (2) and (3) of section 13 of the Indian Securities Act, the District Magistrate is satisfied that the applicant is the only legal heir of the deceased, he will give him a certificate in the following form: “ Certified that (the applicant) is the only legal heir of the deceasedthe last holder of Government promissory notes Nos. of the -per cent. Loan of for Rs. -who died on On production of the promissory notes with a certificate in either of the forms mentioned above the Treasury Officer should require the person named in the certificate to receipt the promissory notes for renewal in the form given in paragraph 62 (iv). The Treasury Officer should then forward the notes and the certificate to the Public Debt Office in accordance with paragraph 62 and should certify that the signature on the certificate is in order. If the title to the promissory notes is disputed, the case should be referred to the Public Debt Office. Note.--In this paragraph District Magistrate has the meaning given in the explanation to section 13 of the Indian Securities Act (vide Appendix I). 61. The holder of any note, whether renewal is actually required under these rules or not, may procure a renewed Dote in lieu of his original security in any of the following ways, that is to say, he may present it duly receipted either in person or through a representative at (1) the Public Debt Office, Calcutta; or (2) if enfaced at a Government treasury, at that treasury for transmission to that office; or (3) if enfaced at Bombay or Madras, at the Public Debt Office, Bombay or Madras.

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·60 Para. 62] PROCEDURE AT TREASURIES FOR RENEWAL OF NOTES. If, however, the person tendering a note for renewal applies for more than one note in lieu of the note tendered, the latter must be receipted on the reverse as follows, or in a form as near thereto as circumstances will admit: “Received, in licu hereof, two (or more) notes for Rs. respectively, payable to (name oj holder), with interest payable at -Treasury. > Signature of the holder duly authorised representative of (naino of holder). If the person tendering more than one note for renewal applies for one consolidated note in lieu of the notes tendered, the latter must be receipted as follows, or in a form as near thereto as circumstances will admit: “Received, in lieu hereof, a new note payable to (name of holder) for Rs.- -by consolidation with promissory note or notes Nos. (mentioning the numbers and amounts of the other notes desired to be consolidated with it and specifying the loan) with interest payable at Treasury . Signature of the holier dnly authorised representative of (vamo of holder). (v) It has been pointed out in paragraph 57, that if a note presented for renewal is not properly discharged, Government's liability in respect of it is not removed by the issue of a new note. It is important, therefore, that the Treasury Officer should see that the form of receipt mentioned in clause (iv) above is clearly and correctly written, and that there is no ambiguity as to the name of the payee of the new note. The name of the holder, as signed by him or as entered by the duly authorised representative below his own signature, should agree with the

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·62 Paras. 64-661 PROCEDURE IN CASES OF DETECTIVE TITLE. / renewed at once under a bond of indemnity, which should be for twice the value of the note. (b) If the defect, however, be a serious one which it would be inadvisable to overlook, or if the holder, where the defect is formal, refuses to enter into the bond mentioned in the preceding article, then the Public Debt Office will refusè to renew the note, or pay interest until the defects in title be cured by the holder. (c) In cases where the note belongs to a minor and representation is limited to interest, the Public Debt Office arranges for payment of interest in accordance with paragraph 98. Or Whav otherramiam a rinnutage to the title tn. a. pro- No. 28. Paragraph 65, (page 62) Note Add "and the Public Debt Office, Madras, to the Deputy Controller of the Currency, ladras." (4th list of corrections, dated the 2nd March 1926.) Interest on notes under renewal. 66. When a note is under renewal, the interest on it, / pending the issue of a new note, can only be paid by the order of the Public Debt Office. ande

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·64 Paras. 69, 70] REPAYMENT OF TERMINABLE LOANS. be referred to the Deputy Controller of the Currency for orders. Bearer Bonds. 69. The bonds will be payable either at the treasury or sub-treasury at which they are registered for payment of coupons or at the Public Debt Office of domicile in whose books they stand. When any such bonds are tendered for payment at the treasury or sub-treasury at which they are registered for payment of coupons, the Treasury or Sub-treasury Officer should make the payment of the principal and also of unpaid coupons, if any, irrespective of the amount of the bond. No receipt need be taken from the presenter, the bonds being payable to the bearer without regard to any endorsement that may appear thereon. The bonds should be stamped “Paid” at the time of payment, the date of payment being noted thereon and should be removed from the register of bearer bonds (Form 5) maintained at the treasury. Stock Certificates. 70. Each Public Debt Office will issue, along with the last interest warrants due on the loan, an intimation that no further interest warrant will be issued and that the principal will be repaid on surrender of the stock certificate at the treasury or sub-treasury at which the interest warrant is payable. Payment of principal should be made at the treasury or sub-treasury concerned on the surrender of the stock certificate and a receipt should be taken on the certificate itself which should read “ Received the principal due on the certificate.' The surrender of the stock certificate must be insisted on in every case, and should the owner of the stock have lost his certificate he must obtain a duplicate from the Public Debt Office before discharge of the security. The receipt for the discharge should be signed by the ‘registered holder whose name >>

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·BC Paras. 71-73) REPAYMENT OF TERMINABLE LOANS. No. 31. Paragraph 71 (ii), (page 66) Foi "originally” read “has” and onit “In these cases, etc., to the end of the sub-paragraph. (4th list of corrections, dated the 2nd March 1926.) be referrea by the Sun-treasury Officer towe Treasury Officer and the latter should deal with them under the following paragraph. Prooedure by 72. Treasury Officers may also make immediate pay- Treasury Officers. ment of notes tendered by an individual up to a limit of Rs. 5,000 when the following conditions are all fulfilled :- (2) if the applicant is the person in whose name the note has last been endorsed or the legal representative in interest of such person; (ii) if the chain of endorsements is in order; (iii) if the endorsements are all by names and not by office; 1 (iv) if the holders have all been single individual persons. All other cases should be referred to the Deputy Controller of the Currency before payment. NOTE.—Conditions (iii) and (iv) above would not be fulfilled in such cases as the following: (1) where an endorsement-is in favour of a corporate body such as a District Board, or a Port Trust, (2) where an endorsement is in favour of a firm or society.. 73. Before paying the principal of a promissory note; a Treasury Officer should see that the conditions laid down in paragraph 36 (1) to (6) for payment of interest are satisfied, but some relaxation of these conditions is permitted . when the value of the promissory notes tendered by an · individual does not exceed Rs. 5,000 (vide paragraph 75).

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·68 Paras. 75, 76] REPAYMENT OF TERMINABLE LOANS. illiterate persons. certificates so produced should be retained by the Treasury. Officer and filed. In cases where the discharge of the father or mother of a minor or lunatic is accepted without production of a certificate, the fact of such relationship should be certified by the Treasury Officer on the back of the scrip. Note.-In this paragraph District Vagistrate has the meaning given in the explanation to Section 13 of the Indian Securities Act (vide Appendix I). Discharge by 76. In the case of illiterate persons the manner of discharge is provided for in Rule 37 of the Rules under the Securities Act (vide. Appendix II). In such cases the receipt for discharge should be signed by a Magistrate (the Treasury or Sub-treasury Officer may sign it if he is a Magistrate) on behalf of and in the presence of the holder, and a certificate should be given by the Magistrate below his signature to the effect that the receipt for discharge was signed by him at the request of the holder after having been previously read over to the latter and that he is satisfied that the effect of such discharge is fully understood by the holder.

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·72 Paras. 82] SECURITIES IIELD BY GOVERNMENT OFFICERS. Payment of interest, roturn, or salo. + Except in cases (c), (d) and (c) the Account Officer or the Deputy Controller of the Currency receiving the securities will forward them to the Controller of the Currency, 82. (a) Notes forwarded to the Controller of the Currency, etc., in accordance with paragraph 81 will be converted into stock of the loans to which they severally appertain. The interest falling due upon the stock will be remitted without deduction of income-tax periodically to the Account Officer or Deputy Controller of the Currency concerned by whom it will be distributed (after deducting the proper income-tax and commission) by payment orders among the depositors. (6) The currency of these orders of payment is limited to six months. If any are presented for payment after that period, the presenter should be referred to the officer who issued the order. (c) On application to the Controller of the Currency or the Account Officer or Deputy Controller of the Currency concerned by the officer who forwarded them, notes so deposited will be returned or sold. The above officers, save where they have received orders from the Local Government that the securities pertaining to any endowment are not to be sold or given up without the orders of Government, act purely as the agents of the officers from whom they received the notes; and the latter are responsible for the sale, realisation or return of notes in accordance with the conditions of the endorsement. 1. It should be observed that when a note is delivered up under this rule, it will not be the identical note which was sent for custody, but only another note of the same loan or of the loan to which the original note was transferred. 2. An officer applying for delivery of a note should always specify at what treasury he wishes it to be enfaced for payment of interest.

·73 [Paras. 83, 84 SECURITIES HELD BY GOVERNMENT OFFICERS. less than 3. Stock certificates will be sent in lieu of promissory notes, if so desired. 83. (a) When promissory notes are to be deposited Notes doposited for with a Government officer for more than 12 months and more than less than five years and the depositor desires to draw months and interest on them during the period of deposit, the latter five years. should be required to endorse them in favour of the Treasury Officer of the nearest treasury. The Government officer jeceiving the deposit will forward the notes to the Treasury Officer for safe custody. (6) On receipt of promissory notes from a Government officer in accordance with sub-paragraph (a), the Treasury Officer will follow the procedure laid down in paragraphs 91-94 in connection with the deposit of notes by the public for safe custody, except that he will only release the promissory notes from safe custody at the request of the Government officer who sent them for deposit and will obtain that officer's receipt for them when they are delivered to him. 84. (a) When promissory notes are to be deposited Notes d го 2 ULL No. 32. Paragraph 84 (a), (page 74), line 4 Before the words "The depositor may draw," etc., add :- “In exceptional circumstances only" (4th list of corrections, dated the 2nd March 1926.) 14 vult uame vi the depositor and that the contract or other document executed by the depositor conveys authority to Government to appropriate or cancel the notes if the contract is not fulfilled. After satisfying himself on these points, the Government officer receiving the deposit will lodge the notes for safe custody at the nearest treasury, except in the Presidency town of Calcutta, where the notes will be lodged with the Controller of the Currency, or Accountant General, Posts and Telegraphs, as ·74 Paras. 84-861 SECURITIES IIELD BY GOVERNDIENT OFFICERS. nad the case may be, and the Presidency towns of Madras and Bombay where they will be lodgeil with the Deputy Controller of the Currency, Madras, or the Deputy Controller of the Currency, Bombay. The depositor mily draw interest on these notes by tendering receipts in the usual form countersigned by the oflicer with whom he deposited them. (1) Tf promissory notes so deposited are forfeited for failure of contract, they should be forwarded to the Controller of the Currency who will arrange for their renewal in his namo. After renewal they will be sold and the proceeds creditel to the department concerned. 85. (a) Notes received in a treasury for safe custody under the preceding article must at once be entered in a register in Form 19, but no record need be made in it of any interest payments. (0) A receipt should be given for all notes so deposited in the same form as the register, the column giving particulars of the return being omitted. The receipt should be reclaimed when the notes are returned. (c) The return of a note should be noted at once in the register in the column provided for the purpose. 86. (a) If it is desired to sell a promissory note held in custody under paragraph S2, application should be made to Controller of the Currency or the Account Officer 'or Deputy Controller of the Currency, as the case may be, who will arrange for the sale and will remit the proceeds. (6) When an officer wishes to purchase a note out of any funds which he holds in trust, he should obtain in favour of the Controller of the Currency, the Deputy Controller of the Currency, Madras, or the Deputy Controller of the Currency, Bombay, as the case may be, a Remittance Transfer Receipt or an Imperial Bank of India draft, for the amount of the market value plus 5 per cent. to cover any payment that may be necessary for interest due on the Solo or purchase.

·75 COMMISSION TO BE CHARGED FOR SALE OR [Paras. 86, 87 PURCHASE AND FOR REMITTING INTEREST notes as well as the commission of one eighth per cent mentioned below and should proceed as follows (1) If the note is to be retained for safe custody, the Remittance Transfer Receipt or draft and the application for purchase should be forwarded to the Controller of the Currency or Account Officer or Deputy Controller of the Currency mentioned in paragraph 81 who will arrange for the purchase and send due intimation there of (2) If the note is not to be so retained, the Remittance Transfer Receipt or draft and application may be sent direct to the Controller of the Currency or Deputy Controller of the Currency, Madras, or Deputy Controller of the Currency, Bombay, as the case may be, who will send the note when purchased together with an account and an order for the balance to be refunded NOTE 1 -An officer applying for tho purchase of a promissory note should always specify which of the loans mentioned in paragraph 7 is to be purchased NOTE 2-When a security deposit is held in the Post Office Savings Banl the officer to whom the Savings Bank Pass Book 18 pledged may, if the depositor so desires, invest the amount of the deposit in Government securities through the Accountant General, Posts and Telegraphs If desired, the notes may after purchase be kept in the custody of the Accountant General, Posts and Tele graphs, and the interest on them credited in the depositor's Savings Bank account 87 A commission of one eighth per cent in addition Commition to any actual outlay on brokerage, is charged by each of these officers for the purchase and sale of promissory notes, and a commission of one quarter per cent for drawing and remitting the interest Commission at these rates is ·76 Paras. 88-901 INVESTMENTS BY PUBLIC OFFICERS Publication deducted from the payments next due to the body or person interested, and credited as Miscellaneous Revenue: 1. The fee of one rupee, levied by the Public Debt Office, for issue of a new note, is also charged against the officer on whose part it is required. 2. Security deposits of Government servants are exempted from this commission. 3. Security deposits of Banks holding regimental funds under Financial Department Resolution No. 3956-A., dated 22nd July 1902, are exempted from commission for drawing interest. 4. This commission is also not charged on investments made through the Post Office Savings Bank referred to in paragraph 86 .(6), Note 2, and also in the case of investments on behalf of the Treasurers of Charitable Endowments. 88. The Controller of the Currency or every Account of Accounts. Officer or Deputy Controller of the Currency who receives notes under paragraph 81 is required to publish at the end of each calender year a list of the notes in his custody. Every Government officer with whom a note has been deposited ex-officio should watch for this publication, and bring to notice any omission or error in which he is concerned. The lists will be made up in Form 20 and published as soon after January 1st of each year as they can be made up. 89. Municipal debentures and Port Trust bonds deposited with a Government officer ex-officio, will be for- Trust Bonds, warded to the Controller of the Currency or the Account Officer or Deputy Controller of the Currency mentioned in paragraph 81. These debentures and bonds will remain in the custody of the local officer if the interest is payable at the local Public Deby Office or branch of the Imperial Bank of India; otherwise they will be sent by him to the Controller of the Currency, the Deputy Controller of the Currency, Madras, or Deputy Controller of the Currency, Bombay, as the case may be. Investmonts 90. The following are the rules regarding investments by public officers. in securities for funds held in trust by public officers for Municipal Debentures and Port 1 ·77 NOTES DEPOSITED FOR SAFE CUSTODY TREASURY OFFICERS WITH [Para. 90 some public or quasi public purpose or on behalf of Govern ment (I) Subject to the exception referred to in Rule III, all investments in securities of trust funds held by a Government officer for a public or quasi public purpose, such as the maintenance of a dispensary, school or the like, shall be made in promissory notes only, and all securities other than promissory notes coming into the posses sion of any Government officer in virtuo of his office to be held in trust for such purposes shall be converted into promissory notes (II) All trusts for such purposes as those indicated in Rule I shall, subject to the exception stated in Rule III, stand in two names and instead of the personal name of an officer of Government, his official designation shall, if possible, be em ployed All securities held under such trusts Will, subject to the same exception, be dealt with in accordance with paragraphs 81 and 82 above The Local Government will declare what trusts represent permanent endowments and will issue orders to the Accountant General or Deputy Controller of the Currency that securities appertaining to such permanent endowments are not to be sold or given up without the orders of Government The Local Government will also, in the case of any trust standing in the name of one officer only, issue instructions declaring what second officer should be associated in the trust (III) If in any case owing to any legal or other diffi culty the orders prescribed in Rules I and II cannot be carried out or if, in any case, it is not considered desirable to carry them out, the ·78 --- Paras. 90, 91] NOTES DEPOSITED FOR SAFE CUSTODY WITH TREASURY OFFICERS. 1 Officers. facts of the case should be reported to the Local Government, and the Local Government will then, by special orders, make such arranget ments as may be necessary to protect the interests of Government and to secure the safety of the trust funds or securities. Notes 91. (a) Holders of promissory notes may, if they so deposited by the public desire, deposit them at a treasury for safe custody. Such for safe custody with notes should be enfaced for payment of interest at that Treasury treasury and should be endorsed by the holder in favour of the Treasury Officer. All arrear interest due on the notes should be drawn before the notes are tendered at the treasury. NOTF.—This facility will not be allowed at the Presidency towns or in districts where the Government treasury business is manag. ed by a branch of the Imperial Bank of India. (b) Application for such deposits should be made by the holder in the prescribed form (Form 21) which should be kept in stock at all district treasuries and sub-treasuries and should be distributed freely to applicants. (C) On receipt at the treasury the application should be carefully checked in respect of the details entered therein with the promissory notes tendered for safe custody. The notes should be examined to ascertain that they stand in the name of the applicant, that they have been duly endorsed by him in favour of the Treasury Cfficer and that there are no defects in the previous endorsements of the nature described in Chapter V. If the application is found to be in order and the notes are free from any defects, the former should be registered and the latter accepted for deposit, an acknowledgment in the prescribed form (Form 22) being handed to the applicant. If the notes are in any way defective and the applicant's title is not free from doubt, they should be returned to the applicant who should be asked to remove the irregularity noticed ·1 79 RCTURN ON NOIES DEPOSITED TOR SAIC CUSTODY [Paras. 91, 92 or, of the defects are such as to require the renewal of the notes, to renew them (d) A register of receipts and disposals of notes held in safe custody should be maintained at each treasury in Form 25 and the necessary entries in this register should first be completed before the achnowledgment referred to in the preceding clause is granted by the Treasury Officer This register should be balanced monthly (e) The receipts and issues in the register of receipts and disposals should be posted in a ledger in Form 23 in which a separate account will be opened on behalf of each individual depositor A balance should be struck in the ledger after each transaction The balances at the credit of the several depositors at the end of the month should be extracted in a balance-sheet in details of loans and the total of all these should be agreed with the net total as worked out in the register of receipts and disposals This agree ment should be verified by the Treasury Officer himself and should bear his initials with date 92 (a) When it is desired to withdraw the notes held Return of in safe custody, the holder should submit an application notes held dy in the prescrihed form (Form 24) and should return titla watha Treasury it the original acknowledgment of receipt granted by tho Oficers Treasury Officer (b) On receipt the application should be checked with the accompanying treasury receipt and with the corres ponding entiles in the ledger account Entries should then be made in the issue side of the register of receipts and disposals and the date of return noted in column 11 of Form 25 against the original entry of the notes on the receipt side The notes should be endorsed by the Treasury Oficer in favour of the depositor Notr 1 - When promissory notes 11e required through the post, the prescribed form (Torm 28 in foil and counter foil) should be used The charges for registration and insurance in such cases ·80 Para. 93] REALISATION OF INTEREST ON NOTES DEPO- SITED FOR SAFE CUSTODY. Realisation of interest on notes deposited for sufo custody. will be borne by Government. When, however, delivery is takeu direct at the treasury, an acknowledynient of the return of the notes should be given on the back of the original treasury recepit in the following form :- Received back the securities specificd on the reverse." Note 2.-When the interest cages on such notes are exhausted the Treasury Oflicer will forward them to the Public Debt Office for renewal, the renewal endorsement being made by him. 93. (a) Interest on promissory notės held in safe custody should be realised as it falls due. The monthly abstract referred to in paragraph 91 (e) above will show the total value of notes held at the treasury on account of cach depositor in the various loans. (b) The receipt for interest may be prepared in a con- .solidated form showing in detail the nuinbers and values of the notes. The interest may first be drawn in gross, the amount of income-tax to be deducted from interest' when paid to the depositors being subsequently credited to Government and adjusted through the personal ledger account referred to in paragraph 94 below. (c) The gross amount of interest due on each loan should be distributed in an interest distribution register in Form 26 and the net amount payable to each depositor should be worked out therein. NOTE.—If exemptions or abatements of income tax are claimed, depositors should periodically furnish the Treasury Officers with the Collector's certificate of exemption or abatement. The rate at which the income-tax is to be deducted should be noted on the particular page of the ledger with reference to the Collector's certificate. (d) The net amount of interest should be paid to the depositor according to the distribution register. Interest may at the option of the depositor be paid direct at the district treasury, or at a sub-treasury or may be remitted to him by money order. When payment is made direct at the treasury, a receipt should be taken from the depositor 1 .

·81 bersonat LEDGER ACCOUNT OF INTEREST REALISED AND PAID (Paras. 93, 94 and the payment should be noted in the prescribed column of the distribution register When the interest is payable at a sub treasury, a cash order may be issued on the subtreasury in favour of the depositor The particulars of the cash order issued should be noted against the item in the distribution register When the cash order is actually paid the fact should also be noted therein When interest is paid by money order, the money order commission should be deducted from the interest due and the dates of receipt of the payees' acknowledgments should le entered in the register In all cases the payees' acknowledgments should be submitted to the accounts office with the munthly accounts in support of the debits under the personal ledger accounts referred to in the next article 91 A personal ledger account will be maintained at Pers the treasury in the manner prescribed in the Civil Account accom Code in respect of the interest realised on the promissory notes and the payments made against it ·82 1 Para. 95) SALE OR TRANSFER OR STOCK CENTILICATUS. CIIAPTER IX. MISCELLANEOUS. Sule or transfer of stock. 95. («) All sales or transfers of stock must be made in eveu hundreds of rupecs and ly transfer to be executed by the registered holder, or his cluly constituted attorney, and registered in the hooks of the l’ublic Debt Office concerned. Such transfers are exempt from stamp duty. A blank form of deed of transfer is printed on the back of eack stock certificate issued and forms can also be obtained at any Public Debt Office. Torins of special powers-ofattorney for eficcting sales can be obtained free of charge from the Local Head Offices of the Imperial Bank of India, Calcutta, Bombay or Madras, directly or through any Treasury Officer. (0) When it is desired to execute a transfer, the original certificate must be lodged at the Public Debt Office on whose books the stock is registered. When this has been done and when the transfer has been duly registered, the transferee will receive a new certificate. The Public Debt Office may, in cases in which this is considered necessary, require the verification of the transferor's signature before a Treasury Officer or other responsible officer of Government qualified to take and record evidence. (c) In cases where only a portion of the stock is transferred, the purchaser will receive a certificate for an amount corresponding to the portion transferred, and a new certificate for the balance will be issued to the transferor. (d) On application to the Public Debt Office, arrangements will be made to register the holder or transferee of any stock as a trustee or by the name of his office. In the ?

·63 (Paras. 96, 97 CONSOLID \TION AND SUB DIVISION OF SLCURITICS atter casc documents relating to the stock cecuted by the older of the office for the time being will be recognised by ho Public Debt Ollice 96 When a registered holder of stoch dies tlic Public iloistratiya lebt Ollice will ordinarily require probate of luis wall or locoased etters of administration of his estate or a certificate bolders _ranted under the Succession Certificate Act of 1889 before egistering the name of his heir in huis place If, however, he noirinal or face value of the Government securities eld by the deceased does not in the aggregato e\cccd Rs 5,000, section 19 of the Indian Securitics Act (vido 1ppendıı I) lays down a summary procedure by which his heir can have his name registered without going to the a pense und trouble of obtaining any one of the above locuments Application for the registr ition of the namo of the heir under this section should be made sis montlis after the decease of the registered holder and should be supported by the necessary evidence regarding the appli cant's title to tho stock If the evidence produced is a certificate in the following form, signed by the District Magistrate having jurisdiction in the place where interest on the stock is payable, or in cases in which interest is payable at a Presidency town or at a place in an Indian State, by the Chief Presidency Magistrate on the Political Agent concerned, the applicant's claim will be recognised without calling for any further evidence "Coitihed that (the applicant) is tho vuly legal heir of the deceased- -the list holder of stock certificates Nos of the per cent lou of- -for Rs -who died on- 01 Consolidation and sub division of securities. 97 Securities of the same loan, on which interest has been paid up to the same date, may be consolidated or subdivided, subject to the condition that, in the case of stock ·84 Paras, 97-99) ISSUE OF DUPLICATES FOR SECURITIES LOSŤ OR DESTROYED. certificates and promissory notes, the new securities will be only for Rs. 100 or multiples of a hundred, and in the case of bearer bonds will be for the denominations in which these bonds are issued, namely, Rs. 100, Rs. 500, Rs. 1,000, Rs. 5,000 and Rs. 25,000. In every case the Treasury Officer should grant a receipt for the securities in Form 17 and should watch the disposal of the securities so presented by entering them in the register in Form 2. Stock certificates presented for consolidation or sub-division should be endorsed by the holder in Form II or III (in Appendix II), as the case may be. Promissory notes should be endorsed in Form VIII or IX (in-Appendix II) as the case may be. No endorsement is required on bearer bonds. The fee charged will be the same as for renewals. Non-transferable deposit receipts. 98. When a promissory note is the property of a minor thc powers of whose guardian are limited to the drawal of interest or belongs to an estate in which administration is limited to interest, the Public Debt Office, upon such note being deposited with it, may arrange for the payment of interest at any treasury or sub-treasury by warrants issued as interest falls due payable to the guardian or administrator. The Public Debt Office will give a nontransferable deposit receipt for the promissory note. On the minor attaining majority or the guardian or administrator being given full powers to deal with the note, the Public Debt Office will issue a promissory note on production of this receipt. Issue of duplicates to replace securities that have been lost or destroyed. . 99. In the case of stock certificates, as already explained, a fresh certificate is issued by the Public Debt Office on being satisfied that the old certificate has actually been lost or destroyed. In the case of bearer bonds (with or ·85 TRANSFER OR SECURITIRSO IANNON.IParas. 99.100. No. 33 Paragraph 99, (pages 84-85) Delele the second sentence and substitute the following:- "In the case of bearer bo 1 or uithout coupons) or of promissory notes, if the report of the loc Treasury where it 18 enfaced act in accordance with paragraph 344, and should direct the alleged proprietor to address the l'uble Debt Office on the subject giving the details set forth in Rule 22 or Rule 11 of the Statutory Rules (vue Appendıx II) (4th list of corrections, dated the 2nd March 1926 ) ✓ rules to which the claimant's attention should be drawn Transfer of Securities to London. 100 Proprietors of stock who may be desirous of transStockenem No. 6. Page 85, paragraph 100% Substitute " London Office of the Imperial Bank of India " for "Bar af Dande). Jouniehamnosmahal and á sPRTACEWA.. ay LC No. 34. Paragraph 100, (age 85)- Delete the present paragraph and substitute the following 1 The London Office of the Impenal Bank of India will issue Interest Drafts payablu in rupees at Calcutta, Bombay or Vadras on Stocha inscribed w Prumadury Hotek registered on their books 2 Propriclors of (19) ertinent Security who may be destrous of transferring them from India to London, er riceversa, should apply to a l'ublic Delt Ollice m India or to the London Ollice of the Imperial Banh, as the case } The London Oilice of the Impenal Bank will rents and convert Goserunt Pramussury dults registered in their boobs provided they consider the title cle rly cstablished 'l bey are at liberty, loncier, in doubtful cases to require the holder to apply to tlic Pulls Delt Ollice at which the note was prestourly infecal Cla130 for the full of duplicates of lost notes will be cult with in India only ofte will li chuyu bly by thu Public Debt Olha at the rate of Re 1 fireach Primiprury rk te or for sch Ro , 000 rtech transferred under this para apli Fees my also be charged by the London Othee of the 17 puerial Bank Eirall Mrvices for white the l'ulfi Dilt Ofhe in entitled to fare fery w rafes cualent to thue xe charged in India (fih lieb of metu nu Jatud teen Varrh.)

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·87 APPENDICES. APPENDIX I. ACT No. X OF 1920. ment. 99 An Act to consolidate and amend the law relating to Government securities, WHENEAS it is expedient to consolidate and amend the law relating to Government securities; it is liereby enacted as follows:- Short title, extent and commence 1. (1) This Act may be called the Indian Securities Act, 1920; (2) It extends to the whole of British India, including British Baluchistan; and (3) It shall come into force on the first day of April, 1920. 2. In this Act, unless there is Definitions. anything repugnant in the subject or context, (a) “Government security means promissory notes (including treasury bills), stock certificates, bearer bonds and all other securities issued by the Governor General in Council or by any Local Government in respect of any loan contracted either before or after the passing of this Act, but does not include a currency note; and (6) "prescribed" means prescribed by rules made under this Act. 3. (1) Save as otherwise pro- Notice of trust not receivable save vided in or under this Act, no as provided. notice of any trust in respect of any Government security shall be receivable by the Government. (2) The Government shall uot be deemed to have received notice of any trust by reason only of the fact that it has recognised an indorsement on a Government security by an executor or administrator as such, nor shall it inquire into the terms of any will by which such executor or administrator may be bound, but, on being satisfied of the dus appointment of such executor or adminis. tor, it shall be entitled to treat him as the full owner of any ·88 APPENDICES. IX of 1872. Government security belonging to the estate of the person whom he represents. 4. (1) Notwithstanding any- Right of survivors of joint or sev- thing in section 45 of the Indian eral payees of Government securities. Contract Act, 1872,- (a) when a Government security is payable to two or more persons jointly, and either or any of them dies, the security shall be payable to the survivor or survivors of those persons, and (6) when a Government security is payable to two or more persons severally, and either or any of them dies, the security shall be payable to the survivor or survivors of those persons, or to the representative of the deceased, or to any of them. (2) This section shall apply whether such death occurred or occurs before or after this Act comes into force. (3) Nothing herein contained shall affect any claim which any representative of a deceased person may have against the survivor or survivors under or in respect of any security to which sub-section (1) applies. 5. Notwithstanding anything in section 15 of the Negotiable Instruments Act, 1881, no indorse- Indorsements to be made on security ment of a Government promissory itself. note shall be valid unless made by the signature of the holder inscribed on the back of the security itself. 6. (1) In the case of any public office to which the Governor General in Council may, by noti- Holding of Government securities fication in the Gazette of India, by holders of public offices. declare this sub-section to apply, a Government security may be made or indorsed payable to or to the order of the holder of the office by the name of the office. (2) When a Government security is made or indorsed as aforesaid, it shall be deemed to be transferred without any or further indorsement from each holder of the office to the succeeding holder of the office on and from the date on which the latter takes charge of the office. (3) When the holder of the office indorses to a third party A Government security made or indorsed as aforesaid, he shall XXVI of 1881. } ·89 APPENDICES. 1891 subscribe the indorsement with his name and the name of the office. (4) A writing on a Government security now or heretofore standing in the name of the holder of a public office, whereby the security has been or was made or indorsed payable to or to the order of the holder of the office by the name of the office, shall not be decmed to be or to have been invalid by reason only of the security having been so made or indorsed (5) This section applics as well to an office of which there are two or more joint holders as to an office of which there is a single holder. 7. Notwithstanding anything in the Negotiable Instruments Act, 1881, the Governor General XXVI of Issue of securities to rulers of States in India, in Council may, in respect of any loan, issue to the ruler of any State in India Government securities in such form and subject to such conditions as to negotiability, succession and other matters as may be prescribed 8 Notwithstanding anything in tho Negotiable Instruments Act, 1881, a person shall not, by XXVI of Indorser of Government security not liable for amount thereof reason only of his having in. dorsed a Government security, be liable to pay any money due, either as principal or as interest, thereunder 9. (1) The signature of the person authorised to sign Govern. nient securities on behalf of the Impression of signalure on Govern ment securities Government may be printed, en graved or lithographed, or impressed by such other mechanical process as the Governor General in Council may direct on the securities (2) A signature so printed, engraved, lithographed or otherwise impressed shall be as valid as if it had been inscribed in the proper handwriting of the person so authorised. 1881 Issue of duplicate, tencued, converted, consolidated or subdivided securities 10 (1) When a Government security is alleged to have been lost or destroyed either wholly 18gue of duplicate securities or in part, and a person claims to be the person to whom but for the loss of destruction it would ·90 APPENDICES. be payablo, he may, on application to the prescribed officer, and on producing proof to his satisfaction of the loss or destruction and of the justice of the claim and on payment of the prescribed fee, if any, obtain from him an order for-- (a) the payment of interest in respect of the security said to be lost or destroyed pending the issue of a duplicate security; and (6) the issue of 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 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. 11, The holder of a bearer bond or other Government security, payable to bearer, may, on appli- Renewal of bearer bonda. cation to the prescribed officer, on delivery of the bearer bond or other security, and on payment of the prescribed fee, if any, obtain from such officer a renewed bearer bond or other security, as the case may be. 12. Subject to the provisions of section 13, a person claiming to be entitled to a Government Renewal of promissory notes. promissory note, may, on applying to the prescribed officer, and on satisfying him of the justice of his claim and delivering the promissory note receipted in the prescribed manner, and paying the prescribed fee, if any, obtain from such officer a renewed promissory note payable to him: Provided that, when application is made for the renewal of a Government promissory note which appears to the prescribed officer to stand in the name of a deceased member of a Hindu undivided family governed by the Alitakshara law, a renewed promissory note shall not be issued to the applicant unless he furnishes a certificate signed by such authority and after such inquiry as may be prescribed to the effect that the deceased belonged to a Hindu undivided family governed by the Mitakshara law, that the promissory note formed part of the joint property of the family, and that the applicant is the managing or sole surviving male member of the family ·1 01 APPENDICES. Explanation - Tho espression "Hindu undivided famıly governed by the tal shara law" shall, for tho purposes of this scction, bo deemed to include a Valbar taruad 13 (1) Where thero is a dispute as to the title to Gorernment probuissory note in respect of Repewal of promissory soles in case of disputa ag lo title ubrali an application for renewal lias been made, tho prescribed oflicer may (a) where any pity to the dispute has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such note, issue a renewed note in fuour of such party or (6) refuse to renew the note until such a decision has been obtained, or (c) nfter such anquiry as is hereinafter provided and consi deration of tho result thereof, declare by order in writing which of the parties 18 in his opinioni entitled to such noto and may, after tho expiration of three months from the date of such declaration, issuo a rene red noto in favour of such party in ac cordance with the provisions of section 12, unless within that penod lo las received notico that proccedings love been instituted by any person in a Court of competent jurisdiction for the purpose of establishing a title to such note Explanation - For the purposes of this sub section the expres 81on final decision means a decision which is not appealablo or a decision touch 18 appealable but 1gainst vlucht nio appeal ling been filed within the period of limitation allowed by law (2) Tor the purposo of the inquiry referred to in sub section (1), the prescribed officer may himself record, or may request tho District Magistrate to record or to hire Iccorded the wholo di any part of such cvidence as the parties may produce When such request has been made to the District Vagistrate, such Magistrato may himself record or may direct any Magistrate of the first class subordinate to him or any Magistrate of the second class subordinate to him and empowered by general or special order of the Local Government in this behalf, to record the evidence, and shall forward a copy thereof to the prescribed officer ·- 02 APPENDICES. - Explanation.--For the purposes of this sub-section, the District Magistrate means the District Magistrate having jurisdiction in the place where interest on the promissory note is payable and, where interest is payable at a presidency town, the Chief Presidency Magistrate, or at a place in a State in India, the Political Agent. | (3) The prescribed officer or any Magistrate acting under this section may, if he think fit, record evidence on oath. 14. Government securities other than those mentioned in sections 11 and 12 may be renew- Renewal of other securities. -ed in such circumstances and in such manner as may be prescribed. 15. (1) The prescribed officer may, subject to such conditions as may be prescribed, on the Ialue of converted, etc., securities. application of a person claiming to be entitled to a Government security or securities, on being satisfied of the justice of the claim and on delivery of the security or securities receipted in the prescribed manner and on payment of the prescribed fee, if any, convert, consolidate or sub-divide the security or securities, and issue to the applicant a new security or securities accordingly. (2) The conversion, consolidation, or sub-division referred to in sub-section (1) may be into a security or securities of the same or different classes or of the same or different loans. 16. (1) When a renewed Government promissory note has been issued under section 12, or a new Liability in respect of promissory Government promissory note has note renewed, etc. i been issued upon conversion, consolidation or sub-division under section 15, in favour of any person, the note so issued shall be deemed to constitute a new contract between the Government and such person and all persons deriving title thereafter through him. (2) No such renewal, conversion, consolidation or sub-division shall affect the rights as against the Government of any other person to the security or securities so renewed, converted, consolidated or sub-divided. Discharge. 17. On payment by or on behalf of the Government to the holder of a bearer bond or other Immediate discharge in certain Government security payable to hearer of the amount expressed cases.

·93 APPENDICES therein on or after the date when it becomes due, or on renewal of a berrer 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 beurer under section 15, the Government shall be discharged in the same way and to the same extent as af such bearer bond, promissory note or other security were i promissory note payable to bearer Provided that, in the case of a Government promissory note renewed under section 13, nothing in this section shall be deemed to bar a claim against the Government in respect of such note any person who had no notice of the proceedings under that sec tion, or who derives title through any such person 18 Save as otherwise provided Discharge in other cases in this Act- (1) On payment of the amount due on a Government security on or after the date on which payment becomes due, OT (11) when a duplıcate security has been issued under section 10, or (212) when a renewed security has been, issued under section 12 or section 13, or a new security or securities has or have been issued upon conversion, consolidation or sub division under section 15, the Government shall be discharged from all liability in respect of the security or securities so paid or in place of which a duplicate, renewed, or new security or securities has or have been issued- (a) in the case of payment-after the lapse of six years from the date on which payment was due, (6) in the case of a duplicate security-after the lapse of 81% years from the date of the publication under sub sec tion (3) of section 10 of the list in which the security is first mentioned, or from the date of the last payment of interest on the original security, whichever date 19 later, (c) in the case of a renewed security or of a new security issued upon conversion, consolidation or sub division-after the lapse of six years from the date of the issue thereof G 2 ·94 then : APPENDICES. Summary procedure in certain cases. 19. (1) If within six months of the death of a person who was entitled to a Government security Procedure on death of holder of or securities (other than a security securities not exceeding uanesaggregate payable-to bearer) the nominal or face value of which does not inthe aggregate exceed five thousand rupees, probate of the will or letters of administration of the estate of such person or a certificate 11 of 1889. granted under the Succession Certificate Act, 1889, is not produced to the prescribed officer, such officer may, after inquiry in the manner provided in sub-sections (2) and (3) of section 13, determine who is the person entitled to the security or securities or to administer the estate of the deceased, and may (a) in the case of any such security relating to a loan due for repayment, authorise payment of the amount due thereon to such person; and (6) in the case of any such security relating to a loan not due for repayment, authorise, in the case of a promissory note, the renewal of such promissory note in favour of such person, or, in the case of stock, the registration of the name of such person in substitution for the name of the deceased. (2) Upon the payment or renewal of any promissory note in accordance with sub-section (1), the Government shall be discharged from all liability in respect of the note so paid or renewed; and any substitution of names made in accordance with clause (6) of subsection (1) shall, for the purposes of any claim against the Government, be deemed to have effected a valid transfer of the stock in respect of which it was made, (3) Any creditor or claimant against the estate of the deceased may recover his debt or claim out of money paid to any person under sub-section (1) and remaining in his hands unadministered in the same manner and to the same extent as if the said person had obtained letters of administration of the estate of the deceased, and nothing in this section shall affect any claim of an executor or administrator or other representative of the deceased against such person other than a claim to recover amounts lawfully paid by him in due course of administration of the estate of the deceased, ·99 APPENDICES Securities held by minors and lunatics 20 Where a Government security stands in the name of or 19 held by a minor or a person who Payment in case of securities held by minors and lunatics is insane and incapable of manag ing his affairs, the interest aceru ing thereon or the capital sum payable in respect thereof on the maturity or discharge of the loan, shall, where, in the case of interest payable, the nominal value of the security, or in other cases the sum payable, does not exceed five thousand i upees, bo paid in such manner as may be prescribed, and on any payment being so made, the Government shall, notwithstanding any pio vision of any enactment to the contrary, be discharged from all Irability in respect thereof Indemnity 21 Notwithstanding anything in section 10, 12, 13 or 15 the prescribed officer may in any case Indemnity arising under any of those sec tions (1) issue a duplicate oi ienewed security or convert, con solidate or sub divide i security or securities upon the applicant giving the prescribed indemnity against tho clains of all persons cluming under the original security or under the security or securities so renewed, con crted, consolidated or sub divided, as the case may be, or (11) refuse to issue 2 duplicate or renewed security or to convert, consolidate or sub divide a security securities unless such indemnity is given or Inspection of registers, books and documents 22 No person shall be entitled to inspect, or to receive information derived from, any Inspection of documents Government security in the possession of the Government or from any book, register or other document kept or maintained by or on behalf of Government in relation to Government securities or any Government security, save in such circumstances and manner and subject to such conctions as may be prescribed ·06 APPENDICES. +++ Penalty. 23. (1) If any person, for the purpose of obtaining for limself or for any other person payment Penalty. of interest or of the capital sum due in respect of any Government security, or the issue of a duplicate security, or the renewal, conversion, consolidation or subdivision of a Government security or securitics, makes to any authority under this Act a statement which is false and which he either knows to be false or does not believe to be true, he shall be punishable with imprisonment for a torm which inay extend to six months, or with fine, or with both. (2) No Court shall take cognizance of any offence under subsection (1) save on the complaint of the authority to whom the falso statement was made. 4 Rules. 24. (1) The Governor General in Council may after previous publication make rules to carry Power to inako rulcs. out the purposes of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:- (a) the manner in which payment of interest in respect of Government securities is to be made and acknowledged ; () the circumstances in which Government securities must be renewed before further payment of interest thereon can be claimed; (c) the form in which and the conditions subject to which Governinent securities may be issued to the rulers of States in India; (d) the fees to be paid in respect of the issue of duplicate securities and of the renewal, conversion, consolidlation and sub-division of Government securities; (e) the proof which is to be produced by persons applying for duplicate securities; (f) the form and manner of publication of the notification mentioned in sub-section (2) of section 10 and the manner of publication of the list mentioned in subsection (3) of that section;

·07 APPENDICES (y) the officer who is to cserciso all or any of the powers and to perform all or any of tho dutics referred to in scctions 10, 11, 12, 13, 15, 19 and 21 (1) the manner of maling the inquiry mentioned in the proviso to section 12, (1) tho cucumstances and tho manner in which securities other than securities payablo to bearer or promissory notes uo to be renewed, () the form in which sccurities delivered for dischargo, renowal, conversion, consolidation or sub division aro to be recoipted, () the conditions subject to which securities may bo con verted, consolidated or sub divided, (1) tho person to whom and tho manner in wludi pryments iro to be undo in respect of Government sccuntics standing in the nimc of, or held by, mmors or persons who are insano and incapablo of managing their affairs, (m) tho tahing of indennitics against aducrso claims of tlurd parties from persons who receivo pryment of interest or of tho capital sum due in respect of Govcrument securities, who obtain duplicate, reacwed, converted, consolidated or sub divided securities, (n) the manner in which any document relating to Govern ment securities or any indorsement on a Government promissory notc may on the demand of any persoz who from any causo is unable to site, be executed on lus behalf, co) cnabling holders of Government stock to le described in the registers of such stock as trustees, and either as trustees of any particular trust or as trustecs with out qualification, and for the recognition of powers of attorney granted by holders of stock so described, (v) the holding of Government stock by the holders of offices other than public offices, and the manner in which and the conditions subject to which stock so held may be transferred, (a) the mode of attestation of documents relating to Government stock, or ·- Home 98 ii. ! APPENDICES. (r) generally, all matters connected with the grant of duplicate, renewed, converter, consolidated and subdivided securities; and (s) the circumstances and the manner in which and the conditions subject to which inspection of securities, books, registers and other documents may be allowed or information thereform may be given under section 22. (3) Nothing in any rules made under clauses (0) and (v) shall, as between any trustees or as between any trustees and the beneficiaries under a trust, be deemed to authorise the trustees to act otherwise than in accordance with the rules of law applying to the trust and the terms of the instrument constituting the trust; and neither the Government nor any person holding or acquiring any interest in any Government stock shall, by reason only of any entry in any register maintained by or on behalf of the Government in relation to any Government stock or any stockholder, or of anything in any docuinent relating to Government stock, be affected with notice of any trust or of the fiduciary character of any stockholder or of any fiduciary obligation attaching to the holding of any Government stock. (4) Rules made under this section shall be published in the Gazette of India, and shall thereupon have effect as if enacted in this Act. XIII of 1886. Repeals. 25. On and from the date on which this Act coines into force, the Indian Securities Act, 1886, Repeals. and so much of the First and X of 1914. Second Schedules of the Repealing and Amending Act, 1914, as XIII of 1886. relates to the Indian Securities Act, 1886, shall be repealed. ܢ ܀ ·09 APPENDICES. APPENDIX II. Definitions RULES UNDER THE INDIAN SECURITIES ACT (X OF 1920) In exercise of thic powers conferred by section 24 of the Indian Securities Act, 1920 (1 of 1920), the Governor General in Council is pleased to male the following rules 1 (1) These rules may be called Short title and application. the Indian Securities Rules, 1920 (2) They shall apply only in tho case of securities issued by the Governor General in Council 2 (1) In these rules, unless there is anything repugnant in the subject or context, - (a) “the Act" means the Indian Securities Act, 1920, X of (6) "Controller of the Curiency” means the lead of the Currency Dep ırtment within the meaning of Indian Paper Currency Act, 1910, (C) "Deputy Controller of the Currency the officer in charge of a circle of issuc within the meaning of the Indian Paper Currency Act, 1910. II of (cc) “ District Vagistrate" has the same meaning as in the esplanation to sub section (2) of section 13 of the Act, (d) “I'oim” means a Form as set out in the Schedule to thesc rules, (e) “proper demand” means a dum ind made in writing to the Controller of the Currency in accordance with the provisions of these rules, and (1) “Public Debt Office" means II of 99 mcans No. 35. Appenılıx II, (page 99)- For sub-clause (2) of clause (f) of rule 2(1) of the Indian Securities Rules, the following shall be substituted, namely. " ) the Publie Debt Oflice on the books of which a Government Secunty is registered " (4th list of corrections, dated the 2nd March 1926) ·100 .IPPENDICES. as including the banks constituted by the Presidency Banks alct, 1870, Rules relating to Stuck. 3. Interest on stock slall be paill on warrants isillel ly the Public Debt Ollice and payablo at Pynicht of interest. Calcutta, Bombay or Madras, as The cat may bou. Such warriti inay, it the requertoi the holder of the fortificate, to be prefulles in writing to the Public Delt Oflice, be mule privable and isny British treasury or sub-treasury ol', in it State: in India, at the lead l'ost Office, if thero is no Britislı treyury, or, if there is no llend Post Office, at any Post Office designated by tho Governor General in Council under in writing in this behali. The presentation of the stuci: certificate shall not be required at the time of payment of interest, but the parer all acknowledge receipt on the back of tho wiltrant. b. A duplicate stoel: errtiticate 'may be issued by the Public Debt Office on its being satisfied I'll of duplicate certificate in ciu that the original certificate has uf lunes or destruction of original. been actually lost or destroyed. 5. Subject to any general or specinl instructions of the Controller of the Currency, the Public Debt Procedure for conversion, ttc. Office, mily, on the application of the holder of the relevant stock certificate or stock certificates, and on liis receipting the silme in l'orm I, II or III, as the case may be, issue converted, consolidated or sub-divided securities in place thereof. 6. (1) On a proper demand inade by a person in whose name any stock is registered, or by a Recognition of trusts, ctc. person into whose name any stock is to be transferred, or by a person who desires to be entered as the proprietor of stock in exchange for promissory notes or bearer bonis lield by him, that he may be described in the books of the Public Debt Office with respect to that stock as a trustee, whether as a trustee of the trust specilied in the demand or as a trustee without any such qualification, the Controller of the Currency shall autliorise the Pulic Debt Ollice to make such entries in its books and in any stock certificate issued in connection therewith as he considers reasonably necessary for the purpose of complying with the demand, .

·101 APPENDICES (2) If the demand is made by a person in whose name stock is registered or by a person into whose namo stoch is to bo transferred, the stock certificate must be trauszuitted to the Controller of the Currency with the demand (3) Where any transfer deed, power of attorney or other docu ment purporting to be executed by n stock holder described in the bools of the Public Debt Ofhce as a trustce is produced to the Public Debt Office, the Public Debt Office shall not be concerned to inquire whether the stock holder is entitled under the terms of the trust to give any such power or to esecule such deed or other document, und may act on the transfer deed, porrer of attorney or document in the same manner as though the stocl holder had not been so described, and whether the stock holder is or is not described in the transfer deed, power of attornoy vi document as a trustec, and whether he does or does not purport to execute the transfer deed, power of attorney or document in lus capacity as a trusteo 7 (1) Where any person is the holder of an office other than a public office, the Controller of Recognition of office holders the Currency may, in the case of my account of Government stoch to be opened and kept with such person either alone or jointly with other persons, vuthorise the description of such person in the books of the Public Debt Olice by the name of his office (2) Where any person holding any Government stoch, whether alone oi jointly with other persons, is the holder of any oflice other than a public office, the Controller of the Currency may, on a proper demand made by that person, or in the case of a joint account, by all the stock holders, authorise the Public Debt Office to close the existing account and to open an account with respect to that stock, or alter the existing account, so that it shall becomo an account under the official description of that person, either alone or jointly with the other stoch holders, according to the terms of the demand, and the Controller of the Currency may authorise the Public Debt Office to make such entries in its books as he considers reasonably necessary for the purpose of complying with the demand (3) Where any authorisation 1198 been given under sub rule (1) or sub rule (2), the personal name of the office holder need not be stated in the accounts, and any document relating to the stock concerned may be executed by the person for the time being holding ·102 APPENDICES. the office described in the account as if his personal name were So stated. (4) Before acting on any demand purporting to be made, or on any document purporting to be executed, in pursuance of this rule by a person as being the holder of any office, the Controller. of the Currency may require the production of evidence that such person is the holder for the time being of that office. 8. When a stock certificate is presented for discharge, a receipt shall be taken on the certificate Receipt required on discharge of a itself or a separate receipt shall stock certificate. be given by the party presenting it. (a) Rules relating to promissory notes other than Treasury Bills. No. 1. Appendix II, page 102, Rule 9 of the Indian Securities Rules- Substitute the following for the existing rule :- Interest on a Government promissory note shall be paid at any treasury or sub-treasury for payment of interest at which the note has been enfaced, but only ou presentation of the note itself and on signature by the payee of a receipt in Form IV. Where, however, interest on a Gevernment promissory note is payable at Calcatta, or a Government promissory note is enfaced for payment of interest at Bombay or Madras, the note itself shall be presented at the local Public Debt Office which shall issue interest warrants in favour of the holders payable at the local Head Office of the Imperial Bank of India. 2nd list of corrections, dated the 2nd larch 1923. (0) II tue nule is torn or in any way damaged or crowded with writing or unfit, in the opinion of the officer before whom it is produced for payment of interest or for receiving indorsement; (c) if any indorsement is not clear and distinct or does not indicate the payee or payees, as the case may be, by name or in the case of office-holders, by. office, or is made otherwise than in one of the indorsement cages on the back of the note;

·103 APPENDICES of the (d) if the note having been enfaced three times for payment of interest is presented for re enfacement, and (e) if, in the opinion of the Public Debt Office, the title of the person presenting the note for payment of interest is irregular or not fully proved 11 (1) Every application for the issue of a duplicate note in place of a Government promissory Report to the Public Debt Office of loss or destruction of promissory note note which is alleged to have been lost or destroyed, either wholly or in part shall be addressed to the Public Debt Office, and shall be accompanied by a statement of the following particulars, namely (a) particulars of the note according to the following form promissory note for Rs No per cent loan of (the last lialf year for which interest has been paid (c) the person to whom such interest was paid, (d) the person in whose name the note was issued (if known), (e) particulars of coupons attached (if any), () the place for payment of interest at which the note was for the time being enfaced, (9) the circumstances attending the loss or destruction and l(h) whether the loss was reported to the police (2) Such letter shall be accompanied by (a) the Post Office registration receipt for the letter contain. ing the note, if the same was lost in transmission by registered post (1) a copy of the police report, if the loss was reported to the police, (c) 1 letter signed by the officer of the treasury or the local head office of the Imperial Bank of India where interest was last paid certifying the last payment of interest made on the note, and, if interest was pud out of Calcutta, to whom it was made, (d) if the applicant is not the last registered holder, an affidaut sworn before & Magistrate testifying that the applicant was the last legal holder of the promis.

·104 APPENDICES. 1 sory note, and all documentary evidence necessary to trace back the title to the last registered holder; and (e) any portions or fragments which may remain of the lost or destroyed note. (3) A duplicate of the letter to the Public Debt Office, but not of its enclosures, shall also be sent to the treasury where interest is payable. 12. The loss or destruction of a Government promissory note or portion of a Government promis- Notification in Gazette. sory note shall be further notified by the applicant in three successive issues of the Gazette of India and of the local official Gazette, if any, of the place where the loss or destruction occurred. Such notification shall be in the form following, or as nearly in such form as circumstances permit: “ Lost” (or " destroyed" as the case may be). The Government promissory note No. of the per cent. loan of for Rs. originally standing in the name of and last indorsed to the proprietor, by whom it was never indorsed to any other person, having been notice is hereby given that payment destroyed of the above note and the interest thereupon has been stopped at the Public Debt Office, and that application is about to be made for the issue of a duplicate in favour of the proprietor. The public are cautioned against purchasing or otherwise dealing with the above-mentioned security. lost Name of person notifying Residence 13. (1) On the expiry of six months from the date of the last notification prescribed in rule 12, Issue of duplicate note and taking the Controller of the Currency of indemnity. shall, if only a portion of the note has been lost or destroyed and if he is satisfied of its loss or destruction and of the justice of the claim of the applicant, and if a portion of the note suficient for the indentification of the note has been produced, cause the particulars of the note to be included ·NO. 36, le ju 6 1 4 Appendix II, (pages 104-0) Por Rules 13, 11 and 10, the following rules shall be su tuled, namely:- " 13 After the publicatio Issue of dupltcate pote and trefi talsag of indemnity applicant, cause the partie erred to in sub-section (3 uwie Delt Ollice (1) if only portion of the note has been lont or destroyal, and portion of the note sufficient for its Identification has producul, to sue to the applicant, ou the crocution of indemnity bond suck as is hereinafter mentioned, a claplı nota in place of that of which a portion has been so lo delnyal, dis months after the date of the publication of said list, and (2) if no portion or no sufficient portion of the note so lust or dentro has been produced, on the execution of an indemmty lond s 4s is hcremaſter inentionu - (u) to pay ta thw arplocant, two suid after shu publicatwn of the list, the nterest in " px nding the inuc of a duplicate note, and (O) to issue to the applicant a duplicate nute in place of the note lust or destroyed six years after the dute of publication of bid liet provided that of the date on which thu nou is due fur requy ment f earlier than the date on whuul the raid punod of six. expires, the Controller of the Currency ball, within weihs of the furinur date, invest the principal amount on the note in the Post Office Savings Ranh, and of reput this amount, together with any interest which 1 haiu accrued thereon in such Banh, to the applicant at time when a duplicate nota would otherwise base 1 issued, and (1) if at any time before the irsue of the duplate note the cinal note is discovered or it apjuars to the l'ublic D Unic for other two, that the order should be Thund the matter shall be rufern to the Coutroller of the C nncy for further consideration and in the muntune mation on the order shall be busqxndul. 11. o prostional order punerel wuder sul-rule () of Rule 13 shali, on expiry of the run ne furrel to thini, La Alterats. I ender, etc. final pruded that the Controlle of the Curres nay, at an titi prior to the issue of a duplicate note, if lie and audio Tesaun, altır or cancel ang nucli onker, atul thay alu dicet that the inter + ·106 APPENDICES. 14. A provisional order passed under sub-rule' (2) of rule 13 shall on the cxpiry of the six years Alteration of ordor, olc. referred to therein, become final; Provided that the Controller of the Currency may, at any timo prior to the issue of a duplicate notr, if he finds sufficient reason, alter or cancel any such order, and may also direct that the interval before the issue of a duplicato note shall be extended by such period, not exceeding six years, as he may think fit. Indemnity bonds. 15. Indemnity bonds shall, (a) when taken on the issue of a cuplicate note or notes, ordinarily be taken as nearly as may be in Form V and be for twice the amount of such note or notes, and (b) when taken on the issue of orders for payment of interest, ordinarily be taken as nearly as may be in Form Vf and be for twice the amount of the interest involved, that is to say, twice the aggregate amount of all back interest accrued due on the note plus twice the amount of all interest to accrue due thereon during tho. period which will have to clapse before the issue of a dupli- -. cate note can be made. (6) Rules relating to Treasury Bills. 15A. (1) Every application regarding a treasury bill alleged to have been lost or destroyed, Report of the loss or destruction of either wholly or in part, shall be treasury bill. addressed to the Controller of the Currency, Calcutta, (in the case of treasury bills originally issued by the Local Head Office of the Imperial Bank of India, Calcutta, or the Local Head Office of the Imperial Bank of India, Madras), or the Deputy Controller of the Currency, Bombay. (in the case of treasury bills originally issued by the Local Head Office of the Imperial Bank of India, Bombay). Such application shall be accompanied by a registration fee of Re. I per treasury bill and a statement of the following particulars, namely:- (i) particulars of the number and value of the treasury bill and the Local Head Office of the Imperial Bank of India by which it was issued; (ii) the circumstances attending the loss or destruction; and/ (iii) whether the loss was reported to the police, ·107 APPENDICES (2) The application shall be accompanied by (a) the Post Olice registration receipt for the letter contain ing tho treasury bill, if lost in transmission by post, (1) a copy of the police report, if the loss was reported to the police, (c) an affidavit sworn before 1 magistrate testifying that the claimant pas the last legal holder of the treasury bill, and (d) any portions or fragments which may remun of the lost or destroyed treasury bill (3) A duplicate of the application, but not of its enclosures, shall also be sent to the local licud Office of the Imperial Bank of India which issued the Treasury Bill 16B The loss or destruction of 1 trensury bill sliall be further notified by the applicant in three Notification in Gazette successivo issues of the Gazette of India and of the local official guzette, if any, of the place where the lose or destruction occurica Such notification shoulil bo in tho form following, or 18 neuly m such form 14 cuicumstances permit "Lost" (or "destroyed" 13 the caso may be) “The Treasury Bill No for Rs issued on ind mituring after a period of months, lavmg been destroyal 110tice is hereby given that application 18 about to bo mundo for payment of the value of the said Treasily Bill in favour of the undersigned " Name of person notifying Residence 15C On the crris of_six months from the data of our hond lost No 37 ipponcıx IT, (pages 107, 111-12)- In Rules 130, 21, 23 and 20, the words “as nearly .14 may bem l'orm V" shall be omilled (Ith list of corrections dated the 2nd March 1920 ) II ·108 APPENDICES. the Controller of the Currency or the Deputy Controller of the Currency, as the case may bc, may direct. If for any reason the Controller of the Currency or the Deputy Controller of the Currency holds that immediate payment of the value of the treasury bill would involve risk of loss to Government, he may withhold payment thereof, and in that case shall, within six weeks of the clate of his decision to withhold payment or of the date of maturity of the treasury bill alleged to have been lost or destroyed whichever date is later, invest the amount of the treasury bill in Government securities or in the Post Office Savings Bank at the option of the claimant and shall thereafter on the expiry of two years from the date of the last notification prescribed in rule 15B, if primâ facic grounds exist for believing that the treasury bill has been lost or destroyed and that the claim of the applicant is just, cause the particulars of the treasury bill so lost or destroyed to be included in a list such as is referred to in sub-section (3) of section 10 of the Act. On the expiry of six years from the date of publication, as hereinafter provided, of the list in which the lost or destroyed treasury bill was first included, the said investment with accumulated interest (or the said deposit, if any investment in the Post Office Savings Bank has been made) shall be delivered to the claimant or his assignee or other legal representative. (c) General. 16. (1) The list referred to in rules 13 and 15C shall be published half-yearly in the Gazette of India Publication of list. in the months of January and July, or as soon afterwards as may be convenient. (2) All notes in respect of which an order has been passed under rule 13 shall be included in the first list published next after the passing of such order and every treasury bill to be included in the list shall be included in the first list published after the expiry of the two years referred to in rule 15C, and thereafter such notes and treasury bills shall be included in every succeeding list until the expiration of six years from the date of first publication. (3) The list shall contain the following particulars regarding each note (other than a treasury bill) included therein, namely, the name of the loan, the number of the note, its value, the name of the person to whom it was issued, the date from which it bears interest, the name of the applicant for a duplicate, the number and date of the order passed by the Controller of the Currency for payment of ·109 APPENDICES interest or issue of a duplicate, ind the date of publication of the list in which the note was first included and similar particulara shall, as far as possible, be given regarding cach treasury bill in cluded in the list 17 (1) Subject to any general or special instructions of the Con troller of the Currency, the Public Form of receipt for renewal, con soldation, etc. Debt Office Calcutta, Madras ar Bombay may, on the application of the holder, (a) renow, sub divido or consolidate a Government promis sory note or notes (not being a tresury bill or treasury bills), provided that the noto or notes has or have been receipted in Torm VII, VIII or IX, as the case may be, or (1) convert the note or notes into a stoch certificate, provided that the note or notes has or hure been indorsed, " Pay to the Governor General of Inden in Council," or (c) convert the note or notes into bearer bonds provided that the note or notes has or have been indorsed in Form X (2) Subject to any general or special instructions of the Con troller of the Currency, the Local IIead Oifice of the Imperial Bank of India which issued the treasury bill may on the application of the holder thereof renew it 18 The certificate required under the proviso to section 12 of the Act shall be a certificate I'roviso for renewal of promissory notes held by managing member of signed by the District Magistrato Hinda joint family subject to Nilal nfter such inquiry (if any) 28 may shara Law in his opinion be necessary to determine the matters in question referred to therein 19 (1) The Controller of the Currency shall exercise the powers Prescribed officer in case of dispute and perform the duties referred to in section 13 of the Act (2) Any declaration innde under clause () of sub section (1) of that section shall be published in threc successive issues of the Gazette of India and the local official Gazette, as soon as possible after the date on which the declaration is made 20 When 2 promissory note Receipt required on discharge of a 18 presented for discharge, promissory note receipt shall be taken on the note itself I 2 ag to title ·110 APPENDICES. . be; Rules relating to Bearer Bonds. 21. Interest on a bearer hond shall be paid to any person who presents the coupon entitling him Payment of interest. to such interest at the Public Debt Office or the treasury at which the bond is registered for payment of interest. 22. (1) Every application for the issue of a duplicate bond. in place of a bearer bond which is, or Roport to tho Public Debt Offico of the corpons of which are, alleged lors or destruction of bearer bond. to have been lost or destroyed, or which is alleged to have been lost or destroyed together with its coupons, shall be addressed to the Public Debt Office, and shall be accompanied by a registration fee of Re. 1 per bond and a statement of the following particulars, namely:- (1) particulars of the number and value of the bearer bond and the loan to which it belongs; (2) particulars of coupons alleged to have been lost or in the possession of the claimant, as the case may (3) the name of the Public Debt Office or treasury at which the bond has been registered for payment of interest; (4) the circumstances attending the loss or destruction; and (5) whether the loss was reported to the police. (2) Such letter shall be accompanied by-- (a) the Post Office registration receipt for the letter containing the bearer bond or coupons, or both, if lost in transmission by registered post; (b) a copy of the police report, if the loss was reported to the police; (c) a letter signed by the officer of the treasury or branch of the Imperial Bank of India, where interest was last paid, certifying the last payment of a coupon with regard to the bond; (cl) an affidavit sworn before a Magistrate testifying that the applicant was the last legal holder of the bearer bond; and le) any portions or fragments which may remain of the lost or destroyed bearer bond or coupons, or both, ·111 APPENDICES (3) A duplicate of the letter to the Public Debt Office, but not of its enclosures, shall also be sent to the treasury at which the bund is registered for payment of coupons 23 The loss or destruction of a bearer bond or coupons or both, shall be further notified by the Notification in Gazette applicant in three successivo issues of the Gazette of India and of tho local official Gauctte, if any, of the place where the loss or destruction occurred Such notification shall be in the form following or as ncarly in such form as circumstances permit "Lost" (or "destroyed” as the case may be) —The bearer bond No the- -per cent loanlost Coupons relating to bearer bond No of the per cent of for Rs (together with coupons or without coupons) for Rs having been destroyed notice is hereby given that application is about to be made to the Public Debt Office for the issue of a duplicate in favour of the undersigned Name of person notifying Residence 24 Where a bearer bond is reported to be lost or destroyed, and the coupons are in the posses Issuo of duplicate on indemnity when bond only lost or destroyed sion of the person claizing to bo the owner of the bond and coupons the Controller of the Currency shall, on the expiry of six months from the date of the last notification prescribed in rule 23, if satis hed that the bond has been lost or destroyed, cause the particulars of the bond so lost or destroyed to be included in a list such as 18 icferred to in sub section (3) of section 10 of the Act, and shall order the Public Debt Office to issue to the applicant a duplicato bond with coupons and to pay the amount of any coupons which may bu duc on the execution of an indemnity bond taken as nearly as may be in Form V for twice the value of the bond lost or destroyed and on the surrender of the unpaid coupons of the original bond 25 Where both a berrer bond and its coupons are reported to be lost or destroyed, the Controller of Issue of doplicate ca indemnity the Currency, shall on the expiry when both bond and coupons lost or destroyed of two years from the date of the last notification prescribed in rule ·112 APPENDICES. 23 if prima facic grounds exist for believing that the bond and coupons have been lost or destroyed, and that the claim of the applicant is just, cause the particulars of the bond and coupons so lost or destroyed to be included in a list such as is referred to in sub-section (3) of section 10 of the Act, and shall pass a provisional order requiring the Public Debt Office, on the expiry of six years from the date of publication, as hereinafter provided, of the list in which the lost or destroyed bond or coupons are first included and on the oxecution of an indemnity bond taken as nearly as may be in F'orm V for twice the value of the bond and twico the value of the coupons due for payment, and unless reasons to the contrary appear in which case tho matter shall be referred back to the Controller of the Currency)— (a) to issue to the applicant a duplicate bond with coupons, and (1) to pay the amount of any coupon which may be due: . Provided that, if the date on which the bearer bond is due for repayment falls earlier than the date on which the period of six years prescribed in this rule expires, the Controller of the Currency shall, within six weeks of the former date, invest the amount of the hond in the Post Office Savings Bank, and shall repay this amount, together with any interest which may have accrued thereon in such Bauk, to the applicant at the time when a duplicate bond would otherwise have been issued. 26. Where the coupons only of a bearer bond are reported to be lost or destroyed, the Controller of Issue of duplicate on indemnity when coupons only lost or destroyed. the Currency shall, on the expiry of two years from the date of the last notification prescribed in rule 23, if primâ facie grounds exist for believing that the coupons have been lost or destroyed, and that the claim of the applicant is just, cause the particulars of the coupons so lost or destroyed to be included in a list such as is referred to in sub-section (3) of section 10 of the Act, and shall pass a provisional order requiring the Public Debt Office, on the expiry of six years from the date of publication, as hereinafter provided, of the list in which the lost or destroyed coupons are first included and on the execution of an indemnity bond taken as nearly as may be in Form V for twice the value of the coupons due for payment and ·113 APPENDICES unless reasons to the contrary appeur (in which case the matter shall be referred back to the Controller of the Currency),- (a) to issue to the applicant a duplicate bond with coupons, and (b) to pay the amount of any coupons which may be due 27 A provisional order passed under rule 25 or rule 26 shall, on the expiry of the six years referred to in these rules, become final Provided that the Controller of the Currency may at any time prior to the issue of a duplicate Alteration of order, etc bond, if he finds sufficient reasons, alter or cancel any such order and may also direct that the interval before the issue of a duplicate bond shall be extended by such period, not exceeding six years, as he thinks fit 28 In making any order under rule 24, 25 or 26 the Controller of the Currency may direct that the Indemnity bonds indemnity bond be executed by the applicant alone or by the applicant and two sureties as the Controller of the Currency may think fit 29 The list referred to in rules 24, 25 and 26 shall be published half yearly in the Gazette of India Publication of list in the months of January and July, or as soon afterwards as may be convenient (2) All bearer bonds and coupons in respect of which an order has been passed under any of those rules shall be included in the first list published next after the passing of such order and in every succeeding list until the expiry of six years from the date of first publication or from the date of the last payment of a coupon, whichever is the later date (3) The list shall contain the following particulars in the case of cach bond included therein, namely, the name of the loan, the number of the lost bearer bond, its value, the dividend numbers and dates of the lost coupons, if any, the name of the applicant for a duplicate, and the date of publication of the list in which the bond was first included 30 Subject to any general or special instructions of the Con troller of the Currency, the Public Prescribed officer for renewal, con Debt Office may, on the applica- Version, etc. tion of the holder, renew, convert, sub divide or consolidate a bearer bond or beurei bonds ·114 APPENDICES. No. 38. rippendix II, (page 114)- For Rule 32 the following rule shall be rule shall be substituted, namely :- 32. Subject to any general or special instructions of the Controller of the Powers of the Deputy Con- Currency, the powers conferred under these rules trollers of the Currency. on the Controller of the Currency may be exercised by the Deputy Controller of the Currency, Bombay, or the Deputy Controller of the Currency, Madras. (4th list of corrections, dated the 2nd March 1991- No. 39. Appendix II, page 114– In clause (6) of the proviso to Rule 33, after the words "his Deputy or Assistant” where they occur for the second, time the words “or an Assistant Accounts Officer attached to the Office of the Accountant General, Posts and Telegraphs" shall be inserted. (4th list of corrections, dated the 2nd March 1926.) Page 114, Rule 33 of the Indian Securities Rules, 1920- Delete the word “or” occurring after the words the renewal indorsement” in the 5th line of clause (6) of the proviso under this rule. (3rd list of corrections, dated the 21st September 1925.) be, in Form XI and shall be for twice the amount of the security ol' securities, as the case may be, with two sureties. Special procedure in certain cases. 35. (1) When a Government security stands in the name of or is held by a minor or a lunatic who is Government securities held by minor incapable of managing his affairs, or lanatic. interest or the capital sum payable ·115 APPENDICES. on the maturity of the loan muy, where, in the case of interest payable, the nominal value of thu security, or in other cases the sum payable, does not exceed five thousaud rupecs, be paid to the futher or, if he be dead, to the mother of such person on the other making the payment being satisfied as to the identity of the father, or mother, as the case may be (2) If such payment be made at a place other than that at which such minor or lunatic and luis father or mother ordinarily rusido, payment may be made on production of a certificate of identity signed by any lagistrate (3) When an applicant for payment is neither the fathei nor the mother of the minor or lunatic, and when the value of the securities standing in the name of such person does not exceed Rs 5,000, payment may be made on production of a certificato by the District Dagistrate, to the effect that the applicant is tho actual guardian of such person (4) If the ralue of the securities standing in the name of a minor or lunatic exceeds Rs 5,000, payment shall not bo mado unless and until the applicant for payment shall have produced evidence to the satisfaction of the officer inaking payment that he is the legal guardian of such person 36 (1) Subject to any general or special orders of the Controller of the Currency, a Deputy On Small holdings of deceased persons Assistant Controller of the Cui. icncy or, in the absence of such an officer, an Accountant General or Comptroller may determine the person entitled to the security or securities of a deceased person, aggregating not more than Rs 5,000, and may in general exercise the functions and perform the duties referred to in section 19 of the Act (2) The powers conferred by sub rule (1) may be exercised by any Postmaster-General in the case of securities standing in the name of a deceased depositor in the Post Office Savings Bank and kept in the safe custody of the Accountant General, Posts and Telegraphs 37 (1) If any person by whom any document relating to a Government security 18 to be When taker of a document 18 un able to write executed, or by w an indorse mient is to be made on a promissory note, satisfies a Magistrate that he is tur any reason unable to write, ·116 APPENDICES. and that the effect of the document or indorsement is fully understood by him, and that he is the person whom he represents himself to be, such Magistrate may, at the request of that person and subject to the provisions of this rule, execute the document or sign the indorsement on his behalf. (2) Where any such document is to be executed or indorsement signed by a Magistrate under this rule on behalf of any person, the Magistrate shall execute the document or sign the indorsement in the presence of that person, and shall enter below his own signature a certificate to the effect that the document was executed, or the indorsement signed, as the case may be, at the request of that person after having been previously read over to the latter, and that he is satisfied that the effect of the document or indorsement is fully understood by such person. 38. (1) Government securities Special securities issued to Ruling Princos. may be issued to the ruler of a State in India, at his request in Torm XII, provided that (a) the ruler has been admitted to this privilege by order of the Governor General in Council, and (1) the total amount for which the ruler applies is not less than Rs. 50,000. (2) Notes issued in accordance with sub-rule (1) shall be in the name of the ruler and his successors and property in them, save as otherwise provided, shall devolve by succession. (3) Any such note may be negotiated by indorsement by the ruler of the State for the time being. (4) The transferee of any such note shall not be capable of negotiating or drawing interest on the same when so transferred, but shall be entitled on surrender to the Public Debt Office of the note or notes so transferred to obtain therefrom Government securities of a like denomination and amount. 39. (1) Any person requiring information regarding a Government security in the custody of Application for information. the Public Debt Office may apply to that office in writing, stating the form in which the information is required. (2) Every such application shall specify with precision the security to which it relates and shall contain a statement of the ·117 APPENDICES copy of purpose for which the information is required and of the iuterest of the applicant in the security 40 The following provisions Disposal of application shall be observed in dealing with applications under rulo 39 – (1) If the application relates to a security which his been renewed, converted, consolidated or sub-divided or asks for inspection from any register or book kept or maintained in the Public Debt Office, the application shall be refused (2) If the application ashs for inspection of a security which has been cancelled on payment of thio amount duo in respect thereof, it shall be referred to, and disposed of under the orders of, the Controller of the Currency (3) In any other case the Public Debt Ollico may, subject to the provisions hereinafter contained, grant a certified ang endorsement on a security or of any entry in any register or bool maintained by that Ofhce relating to any security, on being satisfied that the security in question has stood in the name of the applicant or of a person in whom the applicant has a representative interest, and further that the applicant has a bona fide interest in the security in respect of which the application is made Provided that if the security has been cancelled on payment of the amount due in respect thereof, no copy of any endorsement thereon hall be granted which purports to give a title subsequent to the termination of the applicant's interest in the security (1) The Public Debt Office may, under a special order of the Controller of the Currency, supply any information regarding a security referred to in clause (3) which is directed to be supplied by such an order 41 (1) Lvery applicant shall before any information is supplıcd to him under rulo 39 or rule 40 Fees pay a fee of Re 1 for each security in respect of which any information is supplied and shall execute a bond of indemnity as nearly as may be in Form XIII for twice the value of the security or securities involved and the interest payable thereon since the date of issue ·14: *** 4

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·118 APPENDICES. (2) A fee of Re. I shall be paid for cach certified copy granteil under rulo 40. THE SCHEDULE. [See rule 2 (vl).] 10RM I. (Sec rule 5.) Forn of Indorsement for Conversion of Stock Certificates into Bearer Bonds Promissory Notes of Received in lieu of this stock certificate bearor bonds proinissory notes Rs. cach (together with a new stock certificate for the balance amounting to Rs. ) with interest payable at Treasury. registered holder. Signature of the his duly authorised representative. FORA II. (See rule 5.) Form of Indorsement for Consolidation of Stock Certificates. Rs. for per cent. loan Received in lieu of stock certificates Nos. respectively of the of a stock certificate for Rs. of the per cent. loan of with interest payable at Treasury. registered holder. Signature of the his duly authorised representative.

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·TORI IV. (Sec rule 9.) 120 Receipt for interest on Government Promissory Notes. Per cent. loan of Received from the Government Treasury atinterest duc on Promissory Notes as follows:- No. of noie. N.B.-If the namber is in a fractional foru, No. only need bc quotcd. Amount ! of each Amount of lulf- Note. yearly interest. For low many linlf-years interest is due. Total amount duc. Date up to which interest is due. Yame of holde: of notes, the upper Rs. Rs. Rs. APPENDICES. TOTAL Deduct-Incomc-tax nt pics Net amount payable Total received (in words)- Signature (State whether holder or holder's atlorney or administrator).

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·FORM IV. (See rule 9.) 120 Receipt for interest on Government Promissory Notes. Per cent. loan of Received from the Government Treasury at interest due on Promissory Notes as follows:- No. of note. Amount of each Note. For how many half-years interest is due. Amount of halfyearly interest. Total amount due. Date up to which interest is due. V.B.If the number is in a fractional form, No. only need be quoted. Name of holder of notes. the upper Rs. Rs. A.P. Rs. A. P. APPENDICES. TOTAL Deduct-Income-tax at pies Net amount payable Total received (in words)- Signature- - (State whether holder or holder's attorney or administrator ·121 APPENDICES TORJI V (See rules 1o, 24, 25 and 26 ) Knau all man 1. thata Drasents that No 40 Appendix II, (pages 121-29) Forms V and VI in the Schedule to the Indian Srcuiti Rules shall be omitted (Ith list of corrections date the 2nd March 14-0) of lawful money of British India to be paid to the said Secretary of State in Council his certain attorney successors or assigns for which payment well and truly to be made tre bind ourselves our heirs executors administrators representatives and assigns jointly and every two of us bind ourselves our herrs executors adminis trators representatives and assigns jointly and each of us binds himself his heirs executors administrators representatives and assigns sererally firmly by these presents sealed with our respective seals dated this in the Christian year one thousand mine hundred and And each of us the said day of (PI Su doth hereby for himself his heirs executors administrators re presentatives and assigns covenant with the said Secretary of State in Councıl his successors and assigns that if any suit shall be brought touching the subject matter of this obligation or the condition hereunder written in any Court subject to the superinten dence of the High Court of Judicature at Fort William in Bengal other than the said High Court in its Ordinary Original Civil Jurisdiction the same may at the instance of the said Secretary of State in Councıl be removed into tried and determined by the said High Court in its Estraordinary Original Cıvıl Jurisdiction ·122 1 APPENDICES. Principal.) was Whereas the above bounden ha caused to be represented to the said Secretary of State in Council that lately and until the loss thereof hereinafter mentioned the legal and rightful holder and still is the owner of and absolutely entitled to certain promissory nuto of the Government of India the number bearer bond amount and other particulars of which are set forth in the schedule hereto and that the said Government promissory nuto bearer bord sometime since (P note Principal.) And whereas the said having applied to the Controller of the Currency for New notc in lieu of the sail so alleged to have been bearer bond bearer bona as aforesaid the said Controller of the Currency for and on behalf of the said Secretary of State in Council has on the aforesaid representation of the said acceded to the said application on condition of the said and two sufficient sureties executing such bond as above written and the said have accordingly as such suroties agreed to crerute the said bond with such condition as hereunder is written now the condition of the above written bond is such that if the allove bounden (P. Suretios.) Principal and 2 Suroties.) note 80 their heirs executors administrators representatives and assigns do and shall from time to time if and when the said bearer bond alleged to have been as aforesaid shall happen to be found or come to his or their or any or either of their possession or power or to the possession or power of any other person in trust for him or them or any of them immediately deliver or cause to be delivered the same to the said Controller of the Currency for the time being or the person for the time being exercising his functions on behalf of the said Secretary of State in Council to be cancelled destroyed or otherwise dealt with as may seem meet and further in case the original of the said promissory note shall have already come or shall bearer bond hereafter come to the hands of any person or body corporate whomsoever under such circumstances as may entitle the holder thereof to demand payment of the same or the interest thereof from the ·128 APPENDICES case the said promissory uote said Secretary of State in Council his successors or assigns or in bearer bond or the principal sum therein mentioned or any interest in respect thereof shall at any time hereafter have to be paid or satisfied or received or taken in payment by the said Secretary of State in Council bis successors or assigns or any other or person on his behalf then and in either of such cases if the said (Principala Saroties ) noty note bearer bond their heirs executors adminis trators representatives and assigns shall and do from time to time repay to the said Secretary of State in Council his successors or 3ssigns the amount of the said promissory note which shall have como bearer bond or shall come to the hands of such person or body corporate as aforesaid or which shall hereafter have to be paid or satisfied or received or taken in payment as aforesaid together with all interest which the Government of India shall have paid thereon and also all costs as between attorney and client and all charges losses damages and expenses that shall or may have been incurred by or occasioned to the said Secretary of State in Council his successors or assigns or any of the Officers Servants or Agents of the Govern ment by reason of or consequent upon the issuing of the aforesaid and further if the said (Principal and 2 Suretics.) their heirs executors administrators representatives and assigns shall and do from time to time and at all times hereafter well and sufficiently save defend keep harmless and indemnified the said Secretary of State in Councıl his successors assigns and the Officers Servants or Agents of the Goverrunent and each and every of them of from and against all and all manner of action and actions suit and suits and other legal proceedings costs charges damages and expenses whatsoever which shall or may at any time or times here after be brought commenced or sued by any person or body cor porate whomsoever or whatsoever against or happen or be occasioned to the said Secretary of State in Council his successors oi assigns or any of the Officers Servants or Agents of the Government for or on account or in respect or by reason of the said promissory note so represented to have been as aforesaid of the principal or interest thereby secured or any part thereof or bearer vond I ·124 APPENDICES. or by reason or in respect of or consequent upon the issuing of a note note notes new as aforesaid or of any whichi bearer bond bearer bond bearer bonds may hereafter by substitution sub-division renewal or otherwise note l'epresent the said promissory note or the new so issued as bearer bond aforesaid then the above written bond shall be void and of no effect otherwise the same shall be and remain in full force and virtue. (Principal.) Signed sealed and delivered by in presence of Witness. Occupation and address. Signed sealed and delivered by (First suroty.) In presence of Witness. Occupation and address. Signed sealed and delivered by (Second burety.) In presence of Witness. Occupation and address. Principal identified by me Occupation and address. First surety identified by me Occupation and address. Second surety identified by me Occupation and address.

·125 APPENDICFS Bond explained to abore prin cipal and sureties by me Occupation and address THE SCHEDULL RLFERRED TO IN TIIL TORIGOING BOND HORM VI (Scc rule 15 ) Know all men by these presents that wo (Princip and 3 siroties Address are held and firmly bound unto the Secretary of State for Indın in cache Council in the sum of Rupees of lawful money of British Indin to be paid to the said Secretary of State in Council his cert un attorney successors or assigns for which payment well and truly to be made we bind ourselves our heirs executors administrators representatives and assigns jointly and every two of us bind ourselves our heirs esecutors administrators representatives ind assigns jointly and each of us binds himself his hens executors administrators representatives ind assigns severall) firmly by these presents sealed with our respective seals dated this day of in the Christian year One thousand (Prince nine hundied and And each of us the said And 2 suretres doth hereby for himself his heirs executors administiators re presentatives and assigns covenant with the said Secretary of State in Councıl his successors and assigns that if any suit shall be brought touching the subject matter of this obligation or the condition hereunder written in any Couit subject to the superintendence of the High Court of Judıcature at Fort William in Bengal other than the sand High Court in its Ordinary Onginal Cıvıl Jurisdiction thu name may at the instance of the said Secretary of State in Council 12 ·126 APPENDICES. be removed into tried and determined by the said Tigh Court in its Extraordinary Original Civil Jurisdiction. (Principal.) Whereas the above bounden ha caused to be represented to the said. Secretary of State in Council that was lately and until the loss thereof hereinafter mentioned the legal and rightful holder and still is the owner of and absolutely entitled to certain promissory note of the Government of India the number amount and other particulars of which are set forth in the schedule hereto and that the said Government promissory note some time since (Principal.) And whercas the said ha applied to the Controller of the Currency to the Government of India to continue to pay interest to upon the said note so alleged to have been as aforesaid from the date on which interest appears from the Books of the Public Debt Office to have been last paid thereon up to the end of the half-year (Principal.) preceding the date fixed for the issue to the said of a duplicate of such note and the said Controller of the Currency for and on behalf of the said Secretary of State in (Principal). Council has on the aforesaid representation of the said acceded to the said application for payment of interest as aforesaid on condition of the said (Principal.) and two sufficient sureties executing such bond as above written and the said have accordingly as Surctics. such sureties agreed to execute the said bond with such condition as hereunder is written And whereas on the further application of (Principal.) the said the said . Controller of the Currency has ordered that the said note so alleged to have been as aforesaid shall be included in the next half-yearly list published pursuant to Rule 16 made by the Government of India under Section 24 of the Indian Securities Act 1920 of securities lost or destroyed in respect of which an order has been made for payment of interest pending the issue of such duplicate security as next hereinafter mentioned and that six years after the publication of the list in which the said note is first mentioned if no reason to the contrary appear a duplicate of the said noţe (Principal.) shall be issued to the said ·121 APPENDICES. Now the condition of the above watten bond 13 such that if the above bounden (Principal and suretics.) their heirs csecutors administrators representatives and assigns do and shall from time to time if and when the said note so alleged to have been as aforesaid shall happen to be found or come to their or any or either of their possession or power ou to the possession or power of any other person in trust for them or any of them immediately deliver or cause to be delivered the same to the said Controller of the Currency for the time being or the person for the time being exercising his functions on behalı of the said Secretary of State in Council in order that a memorandum of all payments of interest which may have been made as aforesaid may be daly indorsed thereon And further in case the origin) of the said note shall have already come or shall hereafter come to the hands of any person or body corporate whomsoever under such circumstances as may entitle the holder thereof to demand payment of the interest thereof from the said Secretary of State in Council his successor or assigns or in case any interest in respect thereof shall at any time hereafter have to be paid or satisfied or received or tahen in payment by the said Secretary of State in Council his suc cessors or assigns or any officer or person on this behalf then and in either of such cases if the said their (Principal heirs executors administrators representatives and assigns shall and and 2 do from time to time repay to the said Secretary of State in Councul his successors or assigns the amount of all interest which shall hereafter have been paid or satisfied or received or taken in payment as aforesaid and also all costs as between attorney and client and all charges losses damages and expenses that shall or may have been incurred by or occasioned to the said Secretary of State in Councıl his successors or assigns or any of the Officers Servants or Agents of the Government by reason of or consequent apun the said Controller of the Currency continung to pay interest upon the said note to the said as aforesaid (Principal.) and further if the said (Principal and 2 suroties) their heus esecutors administrators representatives and assigns shall suretics.

·128 APPENDICES. and do from time to time and at all times hereafter well and sufficiently save defend keep harmless and indemnified the said Secretary of State in Council his successors and assigns and the Officer Servants or Agents of the Government and each and every of them of from and against all and all manner of action and actions suit and suits and other legal proceedings costs charges damages and expenses whatsoever which shall or may at any time or times hereafter be brought commenced or sued by any person or body corporate whomsoever and whatsoever against or happen or be occasioned to the said Secretary of State in Council his successors or assigns or any of the Officers Servants or Agents of the Government for or on account or in respect or by reason of the said note so represented to have been as aforesaid or the interest thereby secured or any part thereof or by reason or in respect of or consequent upon the said Controller of the Currency continuing to pay interest to (Principal.) the said upon the said note as aforesaid then the above written bond shall be void and of no effect otherwise the same shall be and remain in full force and yirtae. (Principal.) Signed sealed and delivered by In presence of Witness. Occupation and address. (Ist surety.) Signed sealed and delivered by In presence of Witness. (2nd surety. Occupation and address. Signed sealed and delivered by in presence of ·124 APPENDICES. Vitness, Occupation and address. Principal identified by me Occupation and address First surety identified by me Occupation and address. Second surety identified by me Occupation and address, Bond explained to the above principal and sureties by me Occupation and address THE SCHEDULE REFERRED TO IN THE FOREGOING BOND. FORD VII. [See rule 17 (a).] Form of Indorsement for renewal of a Promissory Note. Recersed in lieu hereof a renewed note payable to (name of holder), with interest payable at Treasury holder Signature of the duly authorised represent. ative of (name of holder).

·130 APPENDICES. FORM VII (A). 1 [Sec rule 17 (2).] Form of Indorsement of the renewal of a Treasury Bill. Received in licu hercof a renewed Treasury Bill payable to holder Signature of the duly authorised representative of tho holder TORM VIII. [See rule 17 (a).] Form of Indorsement for sub-division of a Promissory Note. Received in lieu hereof notes for Rs. respectively, payable to (name of holder), with interest payable at Treasury. . holder Signature of the duly authorised representative of name of holder). FORM IX. [See rule 17 (a).] Form of Indorsement for consolidation of Promissory Notes, Received in lieu hereof a new note payable to (name of holder) for Rs. by consolidation with promissory note or notes Nos, (mentioning the numbers and amounts of the other ·131 APPENDICES, notes desired to be consolidated with it and specifying the loan) with interest payable at Treasury. holder Signature of the duly authorised representative of (name of holder). FORM X, [See rule 17 (e).] Form of Indorsement for conversion of Promissory Notes into Bearer Bonds. Rs. Received in lieu hercof and of notes numbers in the loan of of the value of bearer bond (or bonds) of Rs. eaclı amounting to Rs. with interest payable at Treasury. holder Signature of the duly authorised representative of (name of holder). FORM XI. (See rule 34). Know all men by these presents that we The ol and b sureti the pa are held and firmly bound to THE LATERIAL BANK OF INDIA, PUBLIC DEBT OFFICE, CALCUTTA, in the sum of Rupees of lawful money current at Calcutta, to be paid to the said IMPERIAL, BANK OF INDIA, PUBLIC DEBT OFFICE, CALCUTTA, or to the said Bank's certain attorneys successors or assigus for which payment to be well ·132 APPENDICES. and truly made we bind ourselves and each of us our and each of our Executors Administrators and personal representatives and every of them jointly and severally by these presents sealed with our respective seals. Dated this day of 1 > Whereas a certain promissory note or securit of the Government of India, No. of the per cent. Loan of for Rs. dated the day of 1 were drawn for and on behalf of the then Secretary of State in Council for India by the order and under the authority of the then Governor-General of India in Council in fayour of one Hore recito facts and defeots in endorsoments. And whereas the said has applied to the said IMPERIAL BANK OF INDIA, PUBLIC DEBT OFFICE, CALCUTTA, to renew the said promissory note or securit in favour and in proper name which he said IMPERIAL BANK OF INDIA, PUBLIC DEBT OFFICE, CALCUTTA, have consented and agreed to do on the said with two good and sufficient sureties entering into and executing the above written bond or obligation subject nevertheless to the condition hereunder written and whereas the above bounden at the request of the said have agreed to become sureties for and to join with in executing the above written bond or obligation. Now the condition of the above written bond or obligation is such that if the above boundeu and each of them their and each of their Executors Administrators or legal personal representatives or any or either of them shall from time to time and at all times hereafter well and effectually save defend keep harmless and indemnified the Secretary of State for India and the said IMPERIAL BANK OF INDIA, PUBLIC DEBT OFFICE, CALCUTTA, and their lands tenements goods chattels and effects of from and against the issue of the renewed note or securit in lieu and in place of the said promissory note or securit of the Government of India, No. of the per cent. loan of for Rupees dated the day of ·133 APPENDICES und 1 and standing in the name of also from the payment of all interest which has accrued due thereon and shall from time to time hereafter accrue due thereon and also of from and against all and all manner of actions suits claims and demands whatsoever which may be instituted commenced or prosecuted or made upon or against the Secretary of State for India and the said IMPERIAL BANK OF INDIA, PUBLIC DEVT OFFICE, CALCUTTA, by any person or persons whomsoever being or claiming to be entitled thereto or for or on account or under colour of the said promissory note or securit or of such renewed note or fecurit as aforesaid or the interest now due and from time to time hereafter accrung due thereon respectively and of from and against all loss costs charges and expenses whatsoever which the Secretary of State and the said IMPERIAL BANK OF INDIA, PUBLIC Devr OFFICE, CALCUTTA, shall sustain, incur, or be put to by reason or for or on account or under colour of the renewal of such promis sory note or securit or for or on account or under colour of tho non payınent of such promissory note or securit or of the interest now due or hereafter to accrue due thereon to any person or persons being or claiming to be entitled thereto or for or on account or by reason of these presents then the above written bond or obligation shall be yoid and of no effect but otherwise the same shall remain in full force and virtue + Signed, Sealed and delivered TORM XII. (See rule 38) Form of Special Notes issued to Rulers of States in India, Government loan of Rs Of (nome of loan) Public Debt Office per cent per cent The Governor General of India in Council hereby promises on behalf of the Secretary of State for India in Council to pay 10 lis Highness the Raja of , or his successor the Raja of for the time being at the General ·134 No, 41. ppendix il, page 13.1- In Form XII in the Schoolule to the Indian Scurities Rules or the words “Controller of the Currency" the following shall U substilulell, namely:- " Controller of the Curiency. Deputy Controller of the Currency: (ith list of corrections, rated the med March 1:20.) Superintendent. receive the same and the interest thereon is uioresult way uu uny time be transferred absolutely by thu Raja for the time being entitled to receive the interest thereon and the Governor General of India in Council hereby agrees on surreuder of this special note to issue to the said Raja or any of Ilis Successors Raja of for the time being and holder of this note, promissory notes of the per rent. Loan of in the usual form for the whole or part of the said principal sum according to the request of the Raja making the surrender and to any transferee or transferee sunder the power aforesaid, promissory notes of the same Loan in the usual form for the amount transferred and to the said Raju it special note iu this form for any balance thereof not represented by the notes so issued. Rs. dated the No. 19. Superintendent, (Public Debt Office), Controller of the Currency, for day of Secretary to the Government of India. FORM XIII. [See rule 41.] Form of Indemnity Bond. I Know all men by these presents that am held and firmly bound unto the Secretary of State for India in YO aro ·135 APPENDICES thereon W8 dates o. Council in the sum of* Rupees of lawful money Double of British India to be paid to the said Secretary of State in Council amount his certain attorney successors or assigns for which payment well Intercet myself bind and truly to be made my heirs executors adminis the rest ourselves our trators and representatives (jointly and every two of us bund our 1sgue. selres our heirs executors adminıştrators and representatives jointly (To bo and each of us binds himself herself his and her heirs executors omitter bond to administrators and representatives severally] firmly by these pre from o person sents sealed with seal(s) Dated this Our respective day of in the Christian year one thousand nine hundred . and the said cach of us my 1 and my do myselt hereby for and heirs executors ad. Roth himself herself bus and her ministrators and representatives covenant with the said Secretary of State in Council bis successors and assigns that if any suit shall be brought touching the subject matter of this obligation or the condition hereunder written in any Court subject to the superin tendence of the High Court of judicature at Fort William in Bengal other than the said High Court in its Ordinary Original Cıvıl Jurisdiction the same may at the instance of the said Secretary of State in Councıl be removed into tried and determined by the said High Court in its Extraordinary Original Cıvıl Jurisdiction Whereas the above bounden claims to be entitled Horo what claim notes made to the sereral Gorernment promissory notes specified and set forth Set o in the schedule hereunder written and has caused to be represented spre to the said Secretary of State in Council that the said Government conc thos promissory notes have been And whereas the sand bare applied to the said Secretary of State in Council for an insimetion of the sud notes and also for all other information and particulars respecting the said notes and whereas the Controller ·136 APPENDICES. of the Currency (acting in the premises for and on behalf of the said Secretary of State in Council) has agreed to give inspection of the said notes and to afford to the said all information and particulars affecting the said notes on condition of the said cntering into and executing such bond as above written with such condition as hereunder is written. Now the condition of the above written bond or obligation is such that if the said heirs executors administrators and representatives shall not and will not at any time hereafter sue the said Secretary of State in Council his successors in office or assigns or any agent employed by or officer or servant of the Government for or in respect of the said Notes or the renewal or sub-division thereof or for the recovery of the value thereto or of any interest thereon or of anything done by the said Secretary of State in Council or his agents or servants in relation thereto and also shall and will save harmless and keep indemnified the said Secretary of State in Council his successors in office or assigns or any agents employed by or officer or servant of the Government against all claims demands or proceedings that may be made or instituted upon or against them or any of them by any person or persons whomsoever in consequence of the Controller of the Currency giving inspection of the said notes or affording to the said( ) information and particulars affecting the said notes then the above written bond shall be void and of no effect otherwise the same shall be and remain in full force and virtue. Signed, sealed and delivered by lu presence of Witness. Occupation and address- THE SCHEDULE REFERRED TO IN THE FOREGOING BOND.

·No. 3 para pendu III, pages 137m013!!, Substitute the following for tlw existing paragraph 1 In the case of the public offices uamez? bulon a Golemmislit urity must be made or endorsed parable , or to the order of, e holder for the time being of thi oline, hir thu s vf iliu face Office of Accoaptants General Administrator Gestul and first l'unza No 8. Appendix III, paragraph 1, page 137m. Add" Commissioner of Excize and Salt, Bengal" lelvio Cornimissioner of Customs, Salt and Excise, Bomla,” Ad 'Cominissioner of Exlise, Central Provniky" lelor" Commiastoucr, Northern India Salt Revenue" Substitute “ Assistant Commissioner of Salt Restaur, Valras" for " Assistant Commissioner, Salt and lbları Revenue, Vallah is All Oficial Receirer, Calcutta High Court" lelu" Olhual Racirer of the Court of the Judicial Court in Sind" Add "Officer in charge, Indian Army Service Corps Bauordo" below “Official Trustees " Add " Pay and Accounts Officers, Delhi and Bauore " Jelow " Ollier in charge, Indian Army Service Corps Records" Add Secretary to the Collector of Salt Rerenue, Vadras "Secretary to a local Government " below Add 'Secretary to the Commissioner of Excise, Vadras" Secretary to the Collector of Salt Revenue, Madras" beloro 2 ·138 APPENDICES. Office of Deputy Commissioners, Treasury Officers. Registrars of Fligh Courts. Registrar, Chief Court, Lower Burma. Directors of Public Instruction. Inspectors of Schools. Inspectors General, Jails. Inspectors General of Registration. Inspectors General of Police, Deputy and Assistant Inspectors General of Police. District Superintendents of Police. Conservators of l'orests and District or Divisional Forest Officers. Political Residents. lolitical Agents. District Officer, Frontier Constabulary, Peshawar. Presiding Officers of Courts and Oficers empowered by the Code of Criminal Procedure to require the execution of bonds. Registrars of all Presidency Small Cause Courts. Vanagers of State Railways. Commanding Officers of Regiments. Assistant Commissioner's of Salt and Abkari Revenue, Madras. Consulting Architect to Government (Madras). Collector of Customs, Calcutta. Sherit of Bombay. Divisional Disbursing Officers (Military Accounts). Prothonotary, Testamentary and Admiralty Registrar, High Court, Bombay. the Clerk of the Crown, High Court, Bombay. the Court of Wards in Sind. Officers Commanding Stations. Secretary, Railway Board. General Officers Commanding Divisions and Brigades. Sheriff of. Calcutta. Commissioner of Customs, Salt and Excise, Bombay. Registrar, Judicial Commissioner's Court, Central Provinces, >> ·139 APPENDICES 17 Office of Controller of the Currency Deputy Controllers of the Currency Assistant Controller of the Currency Inspector General Railway Mul Service and Sorting Registrar and Official Receiver of the Court of the Judicial Commissioner of Sind Junicipal Commissioner for the City of Bombay No 9 Appendix III, page 139, par agraph 2– Officers of Indian States Substitute the following for the existing paragraph 1 --- 25 > 1 Accountant General, Baroda State 2 Accountant General, Bilanır 3 Accountant General, Kashmir 4 Accountant General, Patiala 5 Accountant General, Benares 6 Accountant General, Cutch Durbar 7 Administrator, Vabha State 8 Bank Manager, Bhavnagar State 9 Chief Minister, Kapurthala State 10 Chief Secretary, Benures State 1l Controller of State Accounts, Bhavnagar State 12 Dewan of Vysore State 13 Dewan of Cochin 14 Dewan of Travancore State 13 Dewan of Dhar State 16 Dean of Pudduhottai Durbar 17 Educational Inspector Cutch Durbar 18 Licise Commissioner, Hyderabad State 19 Fınauce Vember, Executive Council, Hyderabad State 20 Finance Vember Gvaliou State 21 Karblau of the hurundvad (Senior) State 22 hsbengarh Durbar 23 President Council of Idministration, Bhavnagar State 24 Prime Vinister to lis Highness the Maharaja of Hollar 25 Revenue Vem er, Esecutive Council, Hyderabad State 26 Accountant Generil Bhopal Du, bar 27 Revenue Secretary, Hyderabad State 25 Superintendent, Hill State 29 lazır, Pil inpur Stute 30 Khairpur State 31 Finance Veinber of the Varmır (Jodhpur) State 32 Vinister of Justice and Finance, Sasantvadı State (In 1 st f correct ons, dated the let September 19 ) ·140 APPENDICES. Officers of the Ceylon Government. 1. His Excellency the Governor of Ceylon, 2. Tbe Colonial Secretary. 1. Treasurer of Coylon. 4. Post laster General of Ceylon, 5. The Inspector General of Police, Ceylon. 6. The Commissioners of Currency. 7. Tho Controller of Revenue. 8. The Commissioners of the Luan Boara).

·141 FORMA, SCHEDULE OF FORMS Page of Manual. Paragraphs in the Manual containing reference to Forms Description of Forms No 143 144 14 (®), 15 (c), 18 116 Application for conversion of securities and acknowledgment of receipt of secunties tendered for conversion 15 (c), 56, 62 (11) 97 146 9 Register of securities tendered for renewal, consolidation or sub division 24 (a) 28 147-148 29 149 29 160 3 Register of Interest Warrants 4 Payment order of coupons of bearer bonds at à sub treasury 6 Register of bonds registered for payment of coupons at a treasury 6 Register of coupons paid 7 Detailed list of bonds of which the coupons are payable at a treasury 151 30 (a) 162 33 (a), 38(4) 8 Cancelled. 153 33(e) 164 9 Register of promissory notes enfaced for pepment of interest at a treasury 10 Memorandum of advice of re enfaced notes 34 11 Detailed hist of notes enfaced for payment of interest of a treasury 12 Cancelled. 255 37 (d) (1:1), 38(e) 156 157 38 (c) 108 50 159 56, 62 (11), 97 13 Sce Form IV in Appendıx If. 14 Register of payment of interest 15 Payment order of interest on promissary notes at a sub treasury 16 Register of Powers of Attorney, Probates, Certificates, etc 17 | Achnowledgment for securities tendered for renewal, consolidation or sub division 18 Covering, let to accompany securities for warded for custody 19 Register of Government securities deposited for safe custody. 81 169 181 . 85 (a) ·142 TORMS. SOHEDULE OF TORJS-contd. No. Description of Forms. Paragraphs in tho Manual cont.sining rofcrenco to Torms. Pago of dlanual. 20 88 162 Annual list of promissory notes doposited as scourity. 21 Application for safo custody of Government promissory notes. 91 (6) 103 91 (c) 161 22 Acknowledgment of receipt of Government promissory notos received for safo custody at tho tre.i4ury. 23 | Ledger Account of Ciovornmont promissory notes. 91 (e) 105 24 Application for withdrawal of Governmont promissory notes held in safo custody. 92 (41 ) 106 23 Registor of rocoipts and disposal of notes hold in sifo custody. 02 (6) 107 20 Intorest Distribution Register -93 (c) IGS No. 42. Schedule of forms, page 142- Substitute 170 (a) for “25” and “38 occurring in the 4th column against items Nos. 29 and 30 in the Schedule of forms. Add the following in continuation of Form No. 30, as amend. ed by Ist list of corrections, dated the 30th June 1922:--- No. Description of Forms, Paragraph in the Manual containing reference to forins. Page of Janual. Para. 38A. 170(0) 31 Written stateinent to bo tiled by the claimant of a Government Promissory Note which is not in his possession. (4th list of corrections, dated the 2nd March 1926.)

·Form 1 stock certif cates bearer bonds Form of application for conzersion of beater bonds into pomissory notes Piomissory notes stock certificates stock certzficates bearer bonds Wo or I hereby request that the anderment oned berzer bonds may be converted into promissory notes of the denominations noted promissory notes stock certificates below with interests ayable at the treasury Date- Sgnature of liolder Address 4 PARTICULARS OP STOCK CEILTIFICATES BEARER BOVDS TE DEBED TOR PROMISSORY NOTES COVYERSION PARTICULARS or SOURITIES REQUIRD IX EXCIATGE (8) (0) Interest due under paragraph 20 Stock curtificates l'earer bonds Prom ssory notes FORMS. Loan Number of stock certificate bearer bon1 Promi svry note Value of security Date of last half yearly interest rayment or in the case of berrer lond date up to wh ch coujos lare been paid Load Yalne Valge* Loan Value * Ps RS AT Ps TOTAL TOTAL TOTAL TOTAL AOTE-coro out stock certificates bearer bouds or promissory notes in the above form as the ca e may be For instance for the coa vers on of prom ssory notes into stock certificates columns 7 and 8 the above table are not requirul and may be scored out *\umler of jieces should be specifically mentioned NO dite Calcutta Forwarded to the Secretary and Treasurer, Imperial Bank of India Pablic Debt OEce Bomby for necessary action Madras (Siguature) Tieanary COUPON Treasury Officer Pefcrence Yo Date Number of pieces required of ti e Falce of Rs ind respectuely Amount of fees realized for convers on Rupees and credited in cash account of Treasury Oficer Annas 143 ·ܕ ܚܫ 1 ܇܆ ;; ; ;ܙ ܪ ܙ ܀ ܀ ܀ -1 ܀܀ ܙ ܕ ܗܐ ܝ ܗ ܙ ܚܚܬܐ f ( ܀ ܐ ܙ ܀ ܀ ܚܕ ·Form 2. Register of securities iecencil al the treasury for renewal, consolidation, sub-dialision and contersion. PARTICULARS OF SICURITILI RECRITUD Date of From wliom For Pcſercace to Date of rucujt Initials the forward trew necuti llow of los mnemo to tres from the dutos T.O tin PD 0. PDO of what Initials of T. u. presenta ation. IL MAREE received. purpose Amber Per cent Loay Amount FORBIS. - -- 115 ·Form 3. 116 Register of Interest Il arrants. Printed munber. Amount of once Warrant. To whom payable. Date of delivery. Date of receipt. Receipt of person to whoai delivered. - Rs. HORMIS.

·117 FORAS. Form 4. (To be retained at the Sub-treiury) From-The Treasury Of er, . To-The Sub-treasury Ofhver, The piceent holder of the braier bond detailed below has applied for tho Payment of coupons from your sub treasury. Please verify tho particula18 given below with thoso given on the coupons wliin they are presented at your sub treasury for payment Loups to which the tearer bond iclatea Amount and Number of bearur bond tho coupons of which are Duyable at the sub treasury Imount of interest duo on euch coupon (2) After renfication of theso articulars you slivuld py the interest doo bat you should record the payment of the interest in the columng on the reverse of tlus form Treasury Officer.

·148 FORUS. Details for the payment of interest. Interent for thic half-year Date of rayonent of intuicato sul-trc.ziury Oficer's t'nding the sub-treasury. initial.

·Ser al Lamber No and date of advice from Pablie Debt Once sathorijing payinent of coupon Valae of bond Number of bon 1 Value of each coDPOD. Treasury Off cer's init al Hall year and dividend No of coupons paid and data of payment Hall year and dividend No of coupons pad and date of payment Register showing particulars of bonds registered for payment of coupons at the Form 5 ? PARTICULARS OF COUPONS PAID -Treasury 8 initial Officer's Treasury % Loan of 6 'SITUO RVT ·Form 6. 150 Register of payment of coupons on bearer bonds. AJIOUNT OF COUPONS PAID, PARTICULARS OF THE COUPONS, PAID. + No. of Amount Date. bond. of bond. Half years represent. Deduction of Income tax. Net payment. Treasury Officer's initials. Daily total of Net payments. Dividen Nos, of coupons. 3: % of 1854-55. 4 % Tormimable loan of 1915-16. 4% Conversion loan of 1916-17. ed by coupons. FORMS. 1 # YorE.-Sub-columos for War Loans, 1917 and 1918 and subsequent loans should also be opened in the register.

·Form 6. 150 Register of payment of coupons on bearer bonds. PARTICULARS OR THE COUPONS PAID, AJOUNT OF COUPONS PAID, No. of Amount Date. bond. of boud. Half years Deduction of Income 4% Conver tax. sion loan of 1916-17. Net payment. Treasury Officer's initials. Daily total of Net payments. Dividen represent. Nos, of ed by 4 Terminable loan of 1915-16. 3% of 1854-55, coupons. coupons. FORMS. * NOTE.-Sub-columns for War Loans, 1917 and 1913 and subsequent loans should also be opened in the register.

·151 FORMS Form 7 . Detaileil List of bearer bon is of per cent Lodi of registerel for payment of coupons at the treasury on 31st December ho of bond Amount No a.d date of vice cathorizing payment of coupons l'ENTRES ·Serial Number. 1 No. and dnto of advice of enfucement from Pablic Debt Office, 6 Value of noto. 3 Namber of pote. Awount of balf-yearly interest. 5 Dato up to which interest was last paid. 6 7 Treasury Officer's initia). Halt-year aud date of payment. Half-year and date of payment. Register of promissory notes enfaced for payment of interest at the Form 9. PARTICOLARS OF PAYUENT OF INTEREST. 8 fanspan7 9 No. and date of advice of cancellation from Public Debt Office. -per cent loan of Treasury Officer's ini. tial. 10 SW TO 79T ·153 FORDIS Form 10 (Obverse). B C Place Place Place No. xo. No. 192 192 Dale Dale 192 Date Madras Payment of interest on the folloning Governirent I romissory notes is this day transferred to Bombay, The eplacement on the notes haa been altered and advice gont to the Secretary and Treasurer of the Bank and to the Pablic Debt Office, Calcutta. Interest of the notes has been paid in this Tressory up to The Seerstars anul Treasurer. Imperial Bank of India. Ikumbuy. Indras. SIR, I have the honor to inform you that on the application of the holder I have this day transferrel to you the payment of the interest on the following covernment forum sory notes. I have pail the interest on these notes op to _102 I have the hocour to be, SIR, Yoor obedient servant, The Secretary and Tremarer, Imperial Bank of India, Public Drut once. Calcutta, SID. I have the honour to inform you that on the application of the holder I have this day transferred to Bombay Jadras the payment of the interest ou the following Govern ment promissory notes I lave paid the interest on these totes ap to I have the honour to be SIN, Your obedient servant, 192 Treasury Oficer PT.O. 192 Treasury Officer. P.TO. Treasury Oficer. P.T.O. Form 10 (Reverse). PARTICULARS OF THE XOTES. PARTICULARS OF THE NOTES. PARTICULARS OF THE NOTES. LOIT. LOAN. LOAX. Xo. Amount. No. Amount No. Per cent. Amoast. Year. Per cept. Yest. Per cent. Year Ra. Rs.

·154 FORMS. Form 11. Detailed list of Government promissory notes of per cent. loan of standing enfaced at treasury on 31st December No. of noto. Amount. No, and date of advice authorizing payinent of interest. REMARKS. TOPATI AMOUNT .

·Form 14 Register of payment of Interest on promissory notes INTEREST PAID Act Name of payee Date ONS TROY 1R3 SI PER CENT LOA OT Amouat of notc Date ap to which rad of Toucher Sonber of half-years for hich Tad 3 PER CZYT Loss OY Dal 1 total of iet ol note Dedac tion of Incom taz ras Treasury Ocer in Ittolo int נבין rents 1312-43 1851-65 193. 193 1901-01 1876 07 18 Rs Is To ro 1. R. Rs T'i FOR JIS. • Sab-colamus for Yar Loa Es 1917 and 1913 und 1gbsequent loans should also be opeaed in tho reglater 165 ·156 FORMS. Form 15. To be retained at the Sub-Treasury.) From The Treasury Officer, To-The Sub-Treasury Officer, The present holder of the Government promissory note detailed below has applied for the payment of interest on it from your sub-treasury. Please verify the particulars given below with those given in the Government promissory note when it is presented at your sub-treasury for payment: per cent. Loan of. No. of tho note. Value of the nole. Name of the present holder. Dale up to which interost has been paid. (2) After verification of these particulars you should pay the interest due, but you should record the payment of the interest in the columns on the reverse of this form and also in the proper cage in the promissory noto before paying the money to the holder of the note. (3) In the case of any change of ownership by transfer endorsement, the noto should be forwarded to the District treasury for instructions. Treasury Officer.

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·Form 16. 158 Register of Powers-of-Attorney, Probates, Certificates, etc. Serial No. Date of registry. Date of document. Nime of principal. To whom granted. Description. Limitation of power. FORMS. 1. Separate pages should be reserved for separate initials, and the entries under each initial should have a separate series of numbers. 2. In the case of probates, etc., and orders of court, the name of the court, and any number it may have assigned to its order, may, th advantage, be noted in the column of " Date of Document."

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·Form 16. 158 Register of Powers-of-Attorney, Probates, Certificates, cte. Serial No. Date of registry. Date of document. Nime of principal. To whom granted. Description. Limitation of power. FORMS. 1. Separate pages should be reserved for separate initials, and the entries under cach initial should have a separate series of numbers. 2. In the case of probates, etc., and orders of court, the name of the court, and any number it may have assigned to its order, may, with advantage, be noted in the column of “ Date of Document."

·169 FORBIS. Form 17. Receipt. Stock certificates rencwal Bearer bonds Ieceived for consolidation l'rom1s3ory notes Bub-division PARTICULARS OF SECURITIES RECEIVED. Froir whoin rcccised. Number Per cent. Loan. mount. Total R. The 'Treasury. The 192 Treasury Oficer, Acknoclegrent. Reccised the sccurities specified below in lieu of the sccuritic: mentioncd aborc Nunbur. Per cent 1.041. Imount. Signature of the holder Date

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·Form 19 Register of Government securities deposited for safe custody PARTICULARS OF VOTES 2 Date of Ser al NO By hom deposited number an 1 date of letters retuin ng the notes REMARKS depost no Per cent Loan Amount FORMS. 161 ·162 Form 20. List of Gorriament promissory notes in the custoily of on 11.3114 December 192. JOUXT or IESTUFT. Scris1 Nome of peison or Fund in whose behalf hold. Vine of oiliser to whom intentaris ment, 31 per 3) per :: grp 3por 3! jer cent. of 140) 1947. cont. ofcent, of 1912-13. 1931-35. Cont. of Total. cont, of ( {}. of 1910.11. 19:10.17. w HORM8. { 1 $ *Sub.columns for War Lonng 1917 and 1918 and subsequent kans should also be opened in the register.

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·163 FORDIS Form 21. l'urm of application for safe custody of Government promissory notes at a treasury I request that the undermentioned Goreininent promis ory notes enclosed heicwith, wluch 10 enfaced for payment of interest at the treasury, may bo hopt in safe castody at that treasury and interest thoien as it falls due may in person bo paid to me by money orders The notes bave been endorsed by cash older at the sub treasury in favour of the Treasury Officer PARTICULARS OF VOTES PRESE\TED FOR SAFE CUSTODI Number Loan Amount Inteicst raid up to Total Rg Signature of the deposslor or his duly authorised agent Dute 192 Address То The Trcasury Officei, B-Plea e note that when it is desired to deposit notes for safe custody for any lengthy jennod it will be more con calent to the holder to convert then into stoch certificates, as in case of such cei tificates wiriants foi payment of interest a10 issued without separate application and without prescatation of the certificate, and can be made pyable at any treasury or sub treasury No fee is changel for conversion into stock certibcatcs of promissory notes ·162 Form 20. List of Government promissory notes in the custody ofon the 31st December 192 AMOUNT OF INVESTMENT, * Serial Name of person or Fund in whose behalf held. Name of officer to whom interest is sent. 37 per 3. per 3 per 3 per 33 per ccat. of cent. of cent. of 1842-43. 1854-55. cent. of 1865. 3 per cent, of cent. of 1900-01. 1896-97. Total. 1879. TORMS. *Sub-columns for War Loans 1917 and 1918 and subsequent lans sbould also be opened in the register.

·163 FORMS Form 21 I'vrm of application for safe custoil, of Government promissory noles at a treasuly I request that the undermentioned Governinent promis ory notes enclosed Jelenit)which are enfaced for puy ment of interest at the tresury may be hort 1u safe custody at that treasury and interest thoieon as it falls due may in person be paid to me Tle notes have been endorsed bg cash order at the sab treasury in favour of the Trcabury Officer by money orders PARTICULARS OF VOTES PRESEATED FOR SALE COSTODI Number Loan Amount Interest paid up to Total I's Stjuato e of the depositor or his dulj authorised agent Dude 192 Addi oss To The Ticagury Office, notes for safe custody for colder to convert thorn into nts for payment of interest sentation of the certifilate, No fee is chargei for conversion into stock certificates of promissory notes ·Forin 22. 164 Acknowledgment of receipt. Government promissory notes received for safe custody at the treasury. PARTICULARS. Case No. Date of receipt. Name of depositor. Namber. Loan. Amount. Interest paid op to FORMS. TOTAL Rs. TREASURI, Th- _192 Signature of the Treasury Officer. 1 ·Dato Peference to Register of receipts and dis pornle Norber of the Note. 3} per cent of 18-19-43 3} per cent of 1851-65 {3} per cent of 1863 RECEIPTS. 3} per cent of 18-0 33 per cent of 1070-01 3 per cent of 1806-07 4 per cent Terminab c 1 oan of 1015 10 Sper cent Conterron Loan of 1916 17 | 5 per cent War Loan, 1920 17 5 per cent Var Bords, 1092 Ledger Account of Government momissory notes held at the credit of- Total amornt. NOTE - Additmual blank co? 2221 8 5"cold be provided on tbe rece pts and Issues sider in which the various series of short term bonda and later loonu should be entered Form 23. Date Rcference to register of receipts Anl dis Torals Namber of the Note 31 per cent of 1812 43 3 per cent of 1854-55 3) per cent of 1865 3} per cent of 1970 ISSUES. 31 per cent of 1000-01. 3 per cent of J&M6-07 4 per cent Terminable Loan of 1915-16 4 per cent Conver won Loon of 1916-17 5 per cent Yer Load, 1929 47 53 per cent Mar Bonda 1900 Total amount 'STITOJ 991 ·166 FORMS: Form 24. Form of application for withdrawal of Government promissory notes helil in safe custoily. I request that the undermentioned Government promissory notes held in safe Custody at the- Traasury on my behalf may be returned to direct duly endorsed in my favour. I enclose herewith the or'ginal receipt by post No. dated granted by the Treasury Oflicer. Ilie PARTICOLARS OF NOTES TO BE RETURNED. Number: Loan, Amount. Interest raid up to. Rs. Total. Signature of the Depositor. Date Adilress To THE TREASURY OFFICER, ·Date. Case No. Name of depositor, 3 Namber. Per cent Loir. lear. Amount PARTICULARS OF NOTES RECEIVED. Interest paid ap to 6.8 Initials of the T. O, Reference to ledger 10 Date of reture, 11 Initials of the T. O 12 Register of receipts anel disposals of notes held in safe custody. Form 25. Date. Case No. 2 To bom returned es Number, A Per cent. D Jos: Ycar Ainoant. PARTICULARS OF NOTES RITURNED. Interest paid up to 8 Initials of the T, O 6 Reference to ledger. Reference to ack. nowledgment receipt. 11 FORMS, 167 ·Form 26. 168 Interest Distribution Register. Total amount of interest realised on the notes in the loan of....... Reference to Ledger Abstract. Naine of depositor. Number of the note. Amount. Total amount. Amount of half-yearly interest. Rate of Amount of income income tax. tax. Net amount payable. Date of payment. Initials of T. 0. # 1 2 3 4 5 6 7 8 9 10 11 12 FORMS.

·169 FORMS, Form 27 FROM THE TREASURY OPHICCR, No of trcascy Date To The STCPETARY AND TREASUPER, IMPERIAL BANK OF INDI 1, PUBLIC DEBT OIFICE CILCUTTA SIR, I have the honou to forward herewith for renewal the undernoted Government promissory notes I have the honour to be, SIR, Your most obedient Servant, Treasury Ofices ΜεγO NOTES REQUIRED No Loan Amount Holder's Name How many For N cach COUPON. Reference No Date No Loan 3 2 9 Amount Rupees annas Credited in cash account of - Treasury Oficer.

·174 INDEX. Paragraph. Page. Conversion o1-oontd. Promissory notes into stook certificates or bearer bonds. 13 12 Soourities from ono form to another, how oficotod. 0 10 Socurities of ono loan into another form of scoarity of a difforont loan. 10 10 . Treasury proocdure for doaling with application for 14 to 18 12-14 . Stook cortificates into boaror bonds or promissory notes 11 11 Counterpart Notes- 63 (1) 51 Coupons Payment of interest 8c0 under “Bearer bonds." Custody of promissory notes at treasuries- 91 78 Interost on notes 80 held, realisation and payment of Treasury procoduro for dealing with applications for When permissible. 93, 94 80, 81 91 78 Withdrawal of promissory notes so held 92 79 D Decree of a Court- Transfer of ownership by 47 Deceased holders - Speoial procedure in certain cases 60, 75,98 57, 67, 83 . Documents- Production of in support of claim to dispose of pro- / 38 (3), 47, 31, 46, 47 missory notes by persons other than last endorsee 48. Produotion of - in proof of death of joint-holder relating to corporate bodies, and to marriage. 49 48 Treasury procedure in registering - 50 48 .

·178 INDRA. Paragraph Page Duplicate- Issue of - Bocarities to replace those wbich bave been lost 99 84 E Endorsement of promissory notes- Administrators, — to or by 43 42 Alternative. 41, 42 (3) . 39, 41 Banks, - to or by 45 (1) 43 Blank - not to be received 41 38 45 (%) 39 37 47 49 46, 48 Bodies corporate, - to or by Change of ownership can only be affected by - Documents necessary to validate - in certain casca Exocators, - to or by Firms, by moroantile Government Officers, -- to or by 43 44 43 43 Guardians, - to or by 40 46 Illterato persons by 62 61 Joint 41, 42 (2) 38, 40 47 46 Judicial Officora by pursuant to a decres Must be written in proper place Office-holders, to or by 39 37 43, 45 (3) 42, 44 35, 40 30, 37 42 to 45 39_43 Borutiny of necessity for Signatures of, who can sign Simple Trustees - to or by, how to be treated Valid forms of - 41, 42 (1) 39 46 45 41 to 45 SS-43 ·170 INDEX. Paragraphe Paga 1 Endorsement of promissory nolcs-oogle. Vornaculis mu bo transliturolet 12 (1) 39 Women, vcritication ul by. 61 . Wording ol - 35 1 1 Enlaccu llotos Imnul roburnu! tu thu l'ublia D., Unicu 3: 20 Enlacomcnt.. Ol promiwiyonluklus pmont ol jule ies! Tro.wury prouduro los recordin: -- 33, 35 29, Exccutor me boloro unidorsocient Documents to bo produced by cin Wu iecornici 17 () Fces (for) Consolidation of becurities. 07 83 Couvorsion of securiticu 19 10 . Renowal of promi.gory note Subdivision of scourities 07 83 Firms Endorsounentu by mercantilo, 6 Governoicnt officers Eadorsonients to or by ,sce also under 's Socuritic3 held by Govornmont Ofliccrs" 43 2 Guardians Endorsonicats to or by -. 45 Interest, payment of, to - 1:30 noto (1) 32 ·177 INDEX Paragraph. Page Guardians-oontd. Principal, payment of, for . Production of Guardianship Certificato by - 75 67 47 (3) 47 E Holr Documents to be produced by of notes before he can dispose 47 46 I . 51, 68 . 52, 76 Illiterate persons, endorsement by Interest - Adjustment of secusities in certain cases of conversion of 20 15 Payment of -, see under "Bearer bonds," " “Promissory notes" and "Stock certificates." Payment of on seounties held by Government officers 82 72 Joint endorsements- 41, 42 (2) 38, 40 Joint holder Proof of death of , 42 (2) 40 L London Transfer of securities to . 100 8) Loss of securities 99 84 Procedure for obtaining duplicates Lunaties Special procedure for 36 note (v) 76 to 3°, 67 ·178 INDLY. Paragraph. Page. Married Womion When relor conta luz Cicato ob 11:10 woulil bo supported by clie 61 10 minori mixt unlu: "livarilio." Hotcs See unle: " Proin usory no.c." 0 offico-holders Eudorscica:s by 13, 15 (3) Registration au stock-bolders 13 00.0 13 P -- Promissory notes Compared with stock certificates and bearer boods 3, Conversion into stock curtiticates or bearer bonds 13 12 Description of 2 3 Lodorjonents on rte under Endorsements on promissory notes." l'ecs for consolidation, conversion, renowal and subdivision of 19, 63, 97 15, 61, S3 under Scourities hold Ilold by Government oflicers, by Governmcat ollicers." Loss of - proccduro to obtain duplicates 00 SE ·179 INDEX. Paragraph. Page Promissory notes-contd. Payment of interest on - At Treasures, Treasury Officer's responsibilities 35 30 36 30 At Treasuries, conditions for At Treasuries, treasury procedure 37 33 At Sub treasurie3 38 34 82 72 Held by Government officers Held in safe-custody at treasurieb 93 SO Place of 31, 32 27 Under renewal. 66 60 Repayment of principal of . 71-74 65.06 Transfer from one loan to another 21, 29 18-19 100 85 39 37 Transfer to London Transferable only by endorsement Safe-custody at treasuries Proof of death of joint bolder 91 to 94 78-81 42 (2) 40 R Registration of Bearer bonds at treasures 29, 30 25,96 17 49 18 Documents in support of claim to dispose of promise sory notes in certain coca Other documents relating to promissory notes Treasury procedure for registering documents Renewal (of 00 18 Bearer bonda 56 Promissory notes 57, 58 54, 55 ·180 ! INDEX Paragraph. Page. Renewal (of)-contd. Importance of 58 55, 61 When necessary. 59 56 By heirs of deceased holders 60 57 Treasury procedure for 02 59 Fees for 63 61 Stock certificates not necessary 55 54 Repayment of Terminable Loans Bearer bonds 09 64 . Promissory notes 71-74 65-66 . Securities held by deceased persons 75 (6) 67 Securities held by illiterate persons 76 68- . Securitios held by minors and lunatics 75 (a) 67 Stock certificates 70 64 Rupee Loans List of current 6 8 Repayment of 67-76 63_-68 S Safe Custody- See under Custody." Securities Consolidation or sub-division of 97 83 Issue of duplicates for - lost 99 84 Securities held by Government officers- Accounts regarding SS 76 . Bearer bonds not to be so held 77 69 ·181 INDEX, Paragraph. Page Securities held by Government officerscontd. Commission, when payable. Bluncipal and Port Trust debenturea so held 87 75 89 76 Investments by Pubuc Officers 90 76 Payment of interest on- . 82 72 Sale of 86 Scrutiny of endorsements before accepting promissory notes 1 79 70 . When notes must be endorsed in favour of a Government officer 80, 83 70, 73 - need not be - 84 73 Special Notes- For Indian States 53 (2) 52 Stock Certificates 3 Advantages of Compared with promissory notes and bearer bonds 6 Conversion into bearer bonds or promissory notes. 11 11 Description of - 3 4 Interest on - 23, 24 21, 22 Loss of 99 84 Renewal of -- not necessary 55 54 70 61 Repayment of principal of . Registration of hears of deceased holders Registration of office holders 96 83 43 note Sale or transfer of . 93 82 Transfcr to London. 100 85 Trustcc9, registration of 46 note 10 ·182 INDEX. Paragraph. Page. Stock certificates conid. Sub-treasuries Payment of interest at - 23 ,21 Subdivision of seourities 97 83 Succession Certificate Necessity for 47 (1) 46 . must specify the securities to which it relatee 50 (4) 49 T Transfer (of) Bearer bonde 3 (ii) o . Promissory notes 39 * 37 Securities to London. 85 . 100 Stock certificates . 95 82 Transfer between loans- 10, 21, 22 10, 18, 19 Trust Notice of a not receivable by Government, 46 45 Recognition of in case of stook 46, note 46 Treasury Officers' Responsibilities as regarda seourities work generally I 1 V Verification Of endorsements signed by women, when necessary 51 50 - W Women Endorsements by - 51 50 CALCUTTA : PRINTED BY SUPDT. GOVT. PRINTING, INDIA, 8, HASTINGS STREET.

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