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·GOVERNMENT SECURITIES
MANUAL
Issued by authority of the Government of India.
SECOND EDITION.
CALCUTTA
SUPERINTENDENT (OVTRNVENT PRINTING, INDIA
1921

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·CONTENTS. PAGE. 19 . 10-17 18-20 21-36 37---53 54-62 CHATTER I.-Introductory: description of securities, current rupee loans CILATTER II.-Conrersion of securities from one form to another CHATTER III --Transfers between loans CHAPTER IV --Payinent of interest CHAPTER V --Endorsements on promissory notes CHAPTER VI Renewal of securities CHAPTER VII.--Procedure for repayment of terminable loans CRAFTER VIII.- Securities held by Government officers in their official capacities and deposit of promissory notes for safe custody at treasuries CHAPTCR IX --Miscellaneous; sale Or transfer of stock; consolidation and sub-division of securities; non-transferable deposit receipts; issue of duplicate serurities; transfer to London 69-68 69-81 . 82-86 87-98 99-196 ATPENDICES- 1. The Indian Securities Act, 1920 II.-Rules under the Indian Securities Act, 1920 III.-- List of offices, holders of which can hold Government securities boy name of the office ScuFDUI E OF Torus FOLAS INDEX . 197-140 111-142 113-170 171-182

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·CONTENTS PAGE. Kecu- ]-- one + 10-17 18-20 21-36 37-53 5462 CHATTER I.-Introductory, description of rities; current rupee loans CHAPTER II.-Conversion of securities from form to another CHAITER III.--Transfers between loans CHAPTER IT --Payınent of interest CHAPTER 1.-Endorsements on promissory notes CHAPTER VI -Renewal of securities CHAPTER VII.-Procedure for repayment of terminable loans Charter VIII - Securities held by Government officer in their official capacities and deposit of promissory notes for safe custody at treasuries CHAPTER IX.-Miscellaneous; sale or transfer of stock; consolidation and sub-division of securities; non-transferable slepo. sit receipts; issue of duplicate serurities; transfer to London 63-08 694-81 . . 82-85 . 87-98 99—1361 APPENDICES I.-The Indian Securities Act, 1920 II -- Rules under the Indian Securities Act, 1920 III.-List of offices, holders of which ran Lolil Government securities loy name of the office SCHEDULF or Fonas FORS INDET 137-140 141-142 113--170 171-182

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·This Manual was originally compiled in 1918 in order to bring together all orders existing at the time in the Civil Account Code and elsewhere, regarding Government Securities. In this edition the changes in practice and procedure due to the passing of the Indian Securities Act (Act X of 1920), the amalgamation of the Presidency Banks into the Imperial Bank of India, ctc., have been incorporated and the orders contained herein supersede all previous or ders.

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·Government Securities Manual, CHAPTER 1 INTRODUCTORY. Tupee debt 1. 'lhe rules in this Manual lay down the procedure to be followed in Government offices in dealing with securities issued in respect of the Government of India's I hey also apply to securities issued in respect of loans of l'rovincial Governments, except in so far as they may have been abrogated or nudited by specific rules issued by the Governments concerned. The law relating to Government securities is contained in the Indian Secu- Lities Act (Act X of 1920) whicle is acproduced in Appendix I. Section 24 ut the Act empowers the Governor General in Council to make rules on certain inatteis relating to Government securities and the statutory, rules so made have the force of law. The statutory rules applicable to Government of India securities are contained in Appendix II. The procedure laid down in this Manual is based both on those statutory rules and on the departmental instructions, supplementary thereto, which the Governinent of India have issued from time to time on a number of other matters connected with their securities. The administration of the public debt and the main. tenance of the accounts relating thereto are rested in the central Public Debt Office, Calcutta, which is managed on behalf of Government by the Imperial Bank of India. Certain functions of the central Public Debt Onice have been delegated to the Public Debt Offices at Bombay and ·2 Para. 1] INTRODUCTORY'. Madras, which are managed by the Local Head Offices of the Inperial 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 ticasuries, and in view of the increased extent to which Government securities are being held by the people ont large, outside the Presidency towns, the responsibilities of Treasury Officers are now considerable, and Govern- Inent has to icly increasingly upon the care and attention with which they perform their duties in connection with thoscurities It is mamly for the uso of Treasury (heer thu thu, Vanual has been issued, and they should make themselves thoroughly conversant with the instructons contained herein, more especially with thoso con. lained in Chapters Il' (Payment of Interest) and V (Endorsements on l'romissory Notes), which deal with matters of tect and frequent concern to the work at treat-uries These rules are designed for the protection of the interests both of Government and of the holders of securities; Treasury Olicers' dutiey do not, however, end with the due and formul ob-ervance of them. They should renemier that it is they, and the staffs working under thein, who deal direct with the public, and that the popularity of Government securities, particularly among imentors wutside the large cities, is in a large measure dependent upon the expedition with which the business of throw intenton is put through, the absence of unnecessary formality, and generally, the consideration with which ll.ro are treated, wiedever they have occasion to visit a trung tro draw interne, or to inake enquiries, or to do anseler busine, in collinen tion with their securitics.

·3 DESCRIPTION OF SECURITIES. (Paras. 1, 2 issued In the present chapter a general description is given (1) of the nature and main characteristics of the thrco principal forms in which Government securities are issued, and (2) of the various loans which comprise tho rupee debt of India, and in respect of which such securities are in existence The subsequent chapters describe in detail the procedure to be followed in connection with such matters as the conversion of one form of security into another, transfers between loans, payment of interest, repayment of terminable loans, renewal of securities, etc. 2 The three main forms in which the rupee debt is Nature of Becurities held are:-(1) Stock, or, as it is sometimes called, Book Debt, (ii) Bearer Bonds; (iii) Promissory Notes. (2) When debt is held in the form of Stock the owner is given a certificate to the effect that he has been registered in the books of the Public Debt Office as the proprietor of a certain amount of Government Stock. This certificate is known as a Stock Certificate, and it is by that namo that this form of debt is generally known, and will be referred to in this Manual. (22) A Bearer Bond certifies that the bearer is entitled to a certain sum of rupees in respect of the loan to which the bond relates. (iii) A Promissory Note contains a promise by the Governor General in Council, on behalf of the Secretary of State for India, to pay a certain person a specified sum, either on a specified date or after certain notice (according to the terms of the particular loan to which the promissory note relates), and to pay interest thereon at a certain rate half-yearly on certain specified dates. Each of the above three forms of security is convertible by the nolder into either of the other two. (Vide Chapter II.)

·4 Para. 3) DESCRIPTION OF SECURITIES. Crimin of the thrco principal form of incunties 3. The chief characteristics and relative advantages of the above three forms of Government sccuritics aro as follows:- (1) Stock Certificules.- The ownership of Government Stork depends, not on the possession of :1 stoch (ertificate, 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 certificato does not clicct a change of ownership, which can only be carried out by 0110s of a theisfer deed, upon cxccution of which the transferee's name is substituted for that of the transferur in the l'ublic Debt books. It follows, therefore, and this is the essential characteristic of this form of ;ublic debt, that the outer ut Government stock possesses it practically complete security against loss by theft, lire, etc. . stock certificate is of no value in the hands of a wrongful liolder, 2016 the risk irising from the possession of other furus ut negotiable securities is thereby voided, while an owner of stock who loses his certificate (all always obtain a fresh one by reporting to the l'ublic Debt Office the circumslunces in which the certificate has lern lot. lhe tranzfer dad, exccution of which is neces. sary to effect a change of ownership, is nerely s printed iorm, cupies of which are obtainable at any l'ublic Deb! Oilice (or the blank for Printed on the back of the certificate itself can be wel iur this purpo-c), it does not require Lu Le sued, and il, execution insolie 11 (If*4 and no furt:uility, beyond the filling up of the juri! and its i nature, before a sitne, by the (no purties.

·5 DESCRIPTION OF SECURITIES. [Para. 3 I further advantage of holding debt in this form is that interest is paid on variants issued by the l'ublic Debt Ollice and made payable at whatever treasury or sub-treasury the owner desires, payment being made upon such warrants without the production of the stock certificate itself. (1) Beurer Bonds.-As their title indicates, these bonds are payable to bearer, and, so far as Government is concerned, possession is sufficient to constitute ownership, transference of which can be effected witbout any formalities and by the were handing over of the bond by zile transferoi to the transteres When the luais, in respect of which the bond has been issued, talls due for payment, payment of the amount due on the bond will be inade to the actual presenter, just as is done wlien a currency note is presented for encashient at a Currency Office, without any enquiry as to the status or title of the presenter, and with no regard to any endorsement that may appear on the bond. The essential characteristic, there. tore, of a bearer bond is the absolute freedom with which it can be negotiated. Similarly, as in the case of stock certificates, bolders of bearer bonds are not required to present them, either in person or by an agent, when the interest falls due. Interest coupons attached to each bond, and payment is inade on due date to the presenter of a coupon at the Public Debt Office, or at the treasury at which the bond is registered for payment of the coupons, or at any sub-treasury subordinate to such treasury. (iii) Promissory Notes.-A promissory note is neg able by endorsement, cages for which are are ·en Para. 4] DESCRIPTION OF securities. printed on the back of each note. Interest is payable at the treasury on which the note is enfaced for payment of interest, or at any subtreasury subordinate to such treasury, on presentation of the note itself, 4 In several respects, therefore, a promissory note stands mid-way between the other two forms of Govern- 11:ent securities; thus, (n) As regards security against loss, a promissory note is less secure than a stock certificate but inore secure than a bearer bond. A stock certificate, as stated above, is of no value in the hands of a wrongful holder. A person who lias 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 endorsement or to impersonate the rightful owner, and the rules, laid down in subsequent chapters of this Manual for dealing with pro. missory notes when presented at a Government 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. (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 cndorsement by the sendor of a promissory note is simpler than thic 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 l'ublic Debt Oflice) and less readily than ·TREASTTY BILLS IND CASH CERTIFICATES [Paras. 4, 5 of (19varn. ment arouri. tlo. a hearer bond overship of which passes simply by transference of the bond itself, promissory note is thus a compromise between the two extremes of complete security and immediate negotiability, and it is probably due to this fact that this form of Government security has hitherto proved the most popular of the three, more especially among those classes of investors who are not yet conversant with modern business methods and who at the same time possess feir facilities for the safe-custody of valuable documents 5. Treasury Bills and Post Office Cash Certificates arc Olher farina also forms of Government securities. Treasury Bills, when issued, are in respect of temporary borrowing by the Government of India, and usually have a currency of from three to twelve months. Their sale and payment at maturity are managed by the Imperial Bank of India and any person making enquiries respecting them at a treasury should be referred to the local branch of the Imperial Bank of India, or, if there is no such branch, to the Local Head Office of the Bank at Calcutta, Madras, or Bombay, as the case may be. This rules regarding the renewal of Treasury Bills and for the recovery of their value, if lost or destroyed, are given in Appendix II. The sale of Cash Certificates is managed by the l'on Office, and anyone inquiring about them should be referred to the local postmaster. The rules regarding cash (*14 ficates are to be found in the Post Office Guide. The above two forms of Government securities arrive further referred to in this Manual. If, however, they securities are deposited with a Gorernment officer 1: íu official capacity, they should be dealt with in ansada with paragraph 84.

·8 Paras. 6, 71 CURRENT RUPEE LOANS. Curront rupoe loan. 6. The cxisting 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 (a) on a certain fixed date, or (b) not carlier than a certain fised date and not later than another fired date Such loans are called Terminable Louns. 7 The following are the loans now in existence :-- (a) Non-Terminable Louns. Name of lun 114lf yearly obsle of payment of Interest Conditions of repayment (Unless otherw190 stated, repayment will be mado at par. 1. 31 jer cent loan of 1812 let February Aurust and Tac ..S) ir cent Lun o! 30th Juno Ihweinter and 31st 3 partit Binti; lot Way and 1st Nurem. Perm valla ni the option of Curernniont after three muunts' rotace 1.79 Inch J91 ury an! 16th July 19: Buch Juno Jul 31. Derem by 30th June Jlat Ikeren. 6. 3) ist eint • 1940 .]

·CURRENT RUPET LOANS [Paras. 7, 8 (1) Terminnble Loans. Name of in IIAE cards date of purment of interest Conditions of repayment (Unless otherwise stated. repayment will be made at par) 1 per cent Terminable 100 of 1915 lt 3) May ind 30th Novom her - Repayable not before 30th November 1920 and not Liter than 30th November 1993 Repas able not before 1st October 1931 and not later than 1st Ootober 1936 . 4 per ceut tonierstun 101 of 1716 17 J-t April and let October - Loan, 1017 1922 or 35 per cent Hai Loan 13th February and 15th Repayable not before 15th 19.29-17 August | August 1929 and not later than 15th August 1947. 4 54 per cent P'onda 13th February and 15th Repayable on the 15th August August 1922 5 541xcr cent Wir Conds. 15th March and 15th Sep Repavalle on the 16tl.. lenir September 1921. 6 per cent War Bands 15th March and 15th Sep-Rerijalle on the 15th 1923 teu ber September 1923 7 per cent Wai Bonde, 15th Mare) and 15tl. Ser Perayallo (at Rs 103 per* 1925 tember cent) on the 16th Septem. ber 1925 8 51 per cent W. Punis, 15th March and 15th Ser Repasahe (at Rs 105 per* 1928 tember cent) on the 15th September 1929 9. 5 per cent Income tar 15th Apul end 13th Oeto Repable on 15th October free, Loan, 1915-55 ber 1955 or at the option of Government at any time after 15th October 1915 after 3 months' notice.* 10. 6 per cent Donds, 1930 15th February and 15th Repayable on 16th August August 1030 il per cent. Bods, 1930 15th March and 15th rep. Repayable on the 15th Ser. tember tember 1926 12.6 por cent Bonda, 1931 15th March and 15th Sep Rejuyalle on the 15th Ser. temlor tember 1931 - • 1 lerest on these luns la lo lable to income tax 8 Subject to certain conditions and exceptions, transfers are permitted between certain of the above loins, viz, between any of the 3 per cent. loans and from the 3 per cent. loan of 1896-97 to the 31 per cent. loan of 1900-01. The rules regarding such transfers are contained in Chapters II and IIT.

·10 Paras. 9, 10] CONVERSION OF ONE FORM OF SECURITY TO ANOTIIER. CHAPTER II. Copyornion of LOL CONVERSION OF GOVERNMENT SECURITIES FROM ONE FORM TO ANOTHER, 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 eficcted by the Public Debt Offices, Bombay and Madras, respectively In other cases the conversion will he effected by the Public Debt Office, Calcutta. 10. When a holder desires to convert securities of one soounty of one loan into loan into another form of security of a different loan, the noter les conversion will be subject to the rules and conditions, #diferent regarding transfers between loans, contained in Chapter III and also to the following :- (0) Promissory notes of any of the 3 per cent. loans may be converted into stock certificates of the saine 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 1851-55 loan. (ii) 3 per cent. bearer bonds are not issued Consequently, stock certificates or promissory notex of the 3 per cent. Inan of 1896-97, the holders of which desire to convert their securities into fxarer londs, will be converted into bearer londs of the 3! per ernt. loan of 1854-55, on the sime terins as tho-e set forth in parigraph ·11 CONVERSION OF OXE FORM OF SECURITY TO [Paras. 11, 12 AXOTHER. notc9 22, for transfers from the 3 per cent loan to the 3 per cent loan of 1900-01. (ir) When stock certificates are converted into promissory notes the notes issued will be of the same loan as that to which the stock certificates relate (r) Bearer bonds of any loan can only be converted into stock certificates or promissory notes of the same loin 11 I holder of a stock (citificate, wishing to convert Conversion the whole or a portion of the sum represented by it into certilicates either bearer bonds or promissory notes, may do so by into bearer tendering it either at the Public Debt Office in whose books prornissory the stock stands, or at the treasury or sub-treasury at which interest is payable, with the following endorsement :-- Bearer bonds Received in lieu of this stock certificate P.om wory notes of Rs--- -cach (together with a new stock certificate for the balice amounting to Rs --) with interest payable at- Treasury" Signature of the registered holder or his duly authoriseil representatire. Notr. --Bearer bonus will, however, not bio jasted in substitution af atliei forms of somity wlieu the posts of the folloss on these escutons o donostiators' powe" ale limiteil. 12. A holder of bearer bonds, wishing to convert them Conversion of into stock certificates or promissory notes, should surrender licens lunds them to the Public Deht Oflice, Calcutta, Bombay or certificates or Madras, as tlic case may be, or to tlic treasury or sub- nutes treasury at which the bouds are registered for payment of coupons. No endorsement is required to be made on the bonds. No bearer bond will be accepted for conversion unless the full number of outstanding coupons is attached thereto, fironu sory ·10 Paras. 9, 10] CONVERSION OF ONE FORM OF SECURITY TO ANOTIER CHAPTER II. different Joan CONVERSION OF GOVERNMENT SECURITIES FROM ONE FORM TO ANOTHER. 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. Conversion of 10. When a holder desires to convert securities of one one loan into loan into another form of security of a different loan, the apother 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 34 per cent. loans may be converted into stock certificates of the same or of any other 34 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 33 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 34 per cent. loan of 1854-55, on the same terms as those set forth in paragraph ·13 [Paras. 14, 15 PROCEDURE TOR DEALING WITII APPLICA- TIONS TOR CONVERSION. note. tendered for conversion The application should also state similar particulars as to the stock certificate, bearer hond or promissory note required in exchange (1) Forms of application for conversion (Form 1) should be kept in stock at all treasuries and should be distributed free of charge to applicants when required But an application not in the prescribed form should not be rejected, provided the necessary particulars have been correctly entered (c) On receipt the application should be carefully checked in respect of all the details entered therein, with special reference to the particulais referring to the stock certificate, bearer bond or promissory note (as the case may be) tendered for conversion 15 () In the case of stock certificates and promissory notes tendered for conversion, the Treasury Officer should satisfy himself that the endorsements required under paragraplis 11 and 13 have been made and are in order. (0) In the case of promissory notes tendered for conscrsion, the Treasury Oflicer should further satisfy himself- (1) that the due registration of all documents in support of title to the notes is certified on the reverse as prescribed in paragraph 50, Chapter V; and (2) that the person presenting the promissory note for conversion is the person whom lie represents himself to be. (c) In all cases a receipt should be granted by the Treasury Officer in Form 1 in acknowledgment of the receipt of the securities tendered for conversion. A register slould also le maintained at the treasury in Form 2, to watch the disposal of all such securities received for conversion. ng ·14 Paras. 16-18] PROCEDURE FOR DEILING WITII APPLICA- TIONS FOR CONVERSION. 16. (a) When stock certificates and promissory notes are tenilered for conversion into bearer bonds, stock certificates, or promissory notes of the same loan, all accrued interest should be drawn before the application for conversion is admitteit In the case of herrer lunds, 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 (b) 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 Tublic Debt Ollicc concerned (0) Promissory notes and bearer bonds and coupons should be despatched in a registered 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 clelivery 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 accordanco with column 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 paragrapli 15 An acknowledgnient of the 1 ·15 FEES FOR CONVERSION Paras. 19, 20 conversion. receipt of the new securities should be taken. The interest warrant he will deal with in the manner explained in rule 24 19 The Public Delit Offices charge certain fees in con- Fees for nection with the cliersions from one form of security to another, except in the case of conversion into stock certificates These fees are 4 annas per cent in tlic case of cach converted security not exceeding Rs 400 ind rupee onc per security in the core of each converted security exceeiling Rs 400 and are payable at the tine of application for concrsion The Treasury Officer will record the fact of receipt of these fees on the back of the stock certificate, bearer bond or promissory noie presented for conversion, and the amount should be credited int) the cash account in the same way as renewal fees on promissory hotes (ride paragraph 03), the coupons attached to Form 1 being filled in and despatched to the Public Debt Office 20 Adjustments of interest are necessary in the follow- Adjustment ing cases and should be made as shown in column 3 of tho in certain following tables CA.seg o! conversion (n) If the application is for such certificate of the loan of 1865– promisory notes and the securities and increst has not Leun ontcrcat will be paid and the new secunty ate of the paid for the last full for that lull year will bear loan of hullear ending only up to oferest from 31st January 31st October lot November. 1812.3 31st July 30th April 30th April Ist das. Ist dlay. 29th Juno > . . 1831-55 3014 December 31st Ollober Ist November. 31st October Ist Potember. 1879. 15th January 15th July . 30th April 30th April 1st May. 1st May. 29th Juno . 1900 01 30th December 31st October Ist Nurember.

·16 Para. 201 ADJUSTMENT OF INTEREST IN CINTUIN CASUS OY CONVERSION. sloch certificatry (1) If the applieations for promofy nute of the loan of 1819-1- and thouertrition and interest bas gut beun interest will be part in the new security are of this jhald for the lit full for thuthull mar will bar loan of half year intiin, only up to 1 interest frunt - 29th June 31-Llunuar Ist I'd try 1861 53 30th Decoutus 31st July Ist August 31st January Ist I ebrunty 1805, 30th April 31st October 13th January 31st July | 3131 July | 31st January 1879. 13th July 1st August 1st Jugust 1st February. 1st February 1st Jugust 29th June 31st January 1900 01 30th December 31st July (c) If the application is fou tuck certificates of the loan of 18341-55 promi-sory notes and thoseurities and intuut la4 not been interest will be pud and the new security me of the jaid for the list full for that hulf year will bear loun of hall seir culing only up to Interest frum Oh camlar 31st December 1812 13 31. January 31st July 30th Apul 29th Juths 30th June 30th December 31st Ducumber. 1865. 31st October 29th Juno 30th Juno. 15th Jaguary 30th December 31st December 1879. 13th July 20th Juno 30th Juno (1) JI the application is for stock certiticates of the loan of 1870 promissory notes and tho anturities and interest has not Iren interest will be paid and the new security any of the paid for the lust full for thit bullgeir wall bear luin of lal.y Car cnelung only up to interest fronu . . 1912-13 31st Jantary Zlat July 15th January 15th July 16th January. 16th July.

·17 [Para. 20 ADJUSTMENT OF INTEREST IN CERTAIN CASES OF CONVERSION. and the securitics and interest has not been Igterest will be paid and the new security are of the paid for the last full for that half-y car Tilt bear Lalf year ending only up to Interest froin loan of 15th January 1851-57 s 2012 June 30th Deccmber 13th July 1 15th January . 1803 30th April. 31st October 16th January 10th July. Ilth January 16th July . | 16th January. . 16th July . 13th July . 29th Juno 13th January 1900 02 suth Deccruber 13th July (c) If the application is for Wearcı bouils of the loan of 1854-55- and thc occurities and interest has not been interest will be pard and the coupons on are of tho paid for the last full tur that half year the bond will bear ban of half year ending only up to interest froin 31st January . 30:1 Decembe. 31st December. 1812-13 . 2015 June 30th Juno 30th December 31st Decoinler. 1863. 31st July 30th April 31et October 13th January 15th July 29th June 30th Junc. 30th December 31st December 1879 29th Juno 3011 Juno.

·18 Para, 21) TRANSFERS BETWEEN LOINS. CHAPTER III Transfers lictween the 3 per cent loans TRINSECRS BETWECN LOANS. 21. Promissory notes and stock certificates of any of the 3 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 due on the stock certificate or the promissory note at the time it is presented for transfer Eroprions –T...nsfers de pommtteil on the following cases independently of the above conditmas shown below 10 TUE LO OY 1 RUM 111 IUAN OL 1512 13 1331-55 on 1 1' N 01 1503 1819-13 In the months of in the 1110nths of July and Jan. January, as, uiry June, Jit), SOW! cmlar And De. Cube 1933 33 In all months of tby us XL It January uud Jut 10 the lunt of 1900 01 l any MO In thinonths of Sly, June 0 tnler 1 emler at any time excitit Con ulst intel. ter tu luth January and Ipuin UTD Juu to luth July Isos lu tliet kaatus of Februar), 31.07.II, pril, unt. buleuiter und Uitur In all nullus uf the suur erat M4, Juu, Moi. temi aud Dt. Curr Iu the yetim qort- Hills of Jawy 4 July and in the months of 1 eltuury, March, Ajrul, Autot, Suplumul 20 Utoll 1973 In the anonth of Day, Junc, AOY C Bud Le- LIDLer 1900-01 January In all winnitus 110 le bean of On the nuntiis ott any time except the year it 131 as at any Hlas, June, 20 Iron Jist laun. nu timua ebitur ud K Ler to oth Jau Juty. cewlet Viry-an! 110111 30th Juno to 15th July.

·19 TRANSFERS BETWEEN LO1XS [Paras. 21, 22 Joan of 1896 cont loan of (2) Tlie neu sinck certificate or promissory note will be issued licaung interest from the commencement of the current half-year of the loan to which it appertalls (3) Interest and to that site wll be puud on the old for certitute o promisor's note (4) The fee prennihel in palagraph 1.3 in the case of renewals will be alger ou eithi new promis. 6011 lote issue hult 110 tte will be levied on 11 stock culcate Intel 22 Stoch centuades and prom500 rutes of the 3 per 'ransfer lent loan of 1496-97 con le estranger for securities of the fom the 3 3., per cent loan of 1900 01 ( the following terms :- 97 to 3 rer (1) It the face value of the 3 per cent securities 1900 01. tendered for conversion is all exact multiple of R700 the tenderer wall 1ceive, in exchange, 3.! per cent notes for six-sevenths of such face value (2) If the face value of thic 3 per cent. securities tendered for conversion does not form an exact multiple of Rs. 700, thic tenderer has thic option of receiving- (a) Three-suid-a-half fier cent securities cquivalent to thic necrest louer multiple of Rs. 700 calculated as in clausc (1), togetlier with the difference in 3 per cent, sccurities, or (0) Three-and-a-half per cent securities of the nearest higher equivalent face value in hundreds calculated as in clause (1), on payment in cash of the difference between (i) six-screntlis of the face value of the tlırce per cent. securities tendered, and (ii) the face value of the 3! per cent. securities received in exchange.

·20 Para. 221 TRANSCERS BETWEEN LO INS. (3) Interest on all 3 per cent sccurities 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 caslı at the time of conversion, and the now 3 or 3 per cent. securities will bear interest from the beginning of the half-year current at the time of conver- Sion (4) Securities may be tendered for conversion at tho Public Debt Office, Calcutta, or 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 st.ch certificato (a) "Received in lieu of this loromory acte stock certificate cent. for J'romi-sory note ..........and stol cert:catc cent. for......... or From-sory note (6) " Received in lieu of this stock certificato and of a Promissory noto cash payment of Rs .3 per cent ptock certificato prom 134ory noto for ........... 31 per 3 per > ·PAYMENT OR INTEREST [Para. 23 payment. CHIPTER IV PUYMENT or INTEREST (A) Stock Certificates 23 Interest on stor h certificates is paid on warrants, Method and issued lix the Public Delit Ollice on wlose hooks the certifi- place of cate is registered, and payable at Calcutta, Bombay, or Madras as the case may be Stock may be transferred from one l'ublic Debt Office to another If so desired by the proprietok vi the stock, warrants will be made payable at any treasury or sub-treasury, or in a State in India at the Head Post Office if there is no British treasury, or, if there is no Ilead Post Oflice at any l'ost Office designated by the Governor General 11 Counul by order in writing in thuis blult in such cases the proprietor should intimate, in a written application to the l'ublu Debt Ollile, the place at such he desire, luis interest wariants to be made payable, and such a request will continue to be acted upon, at cach balt-car, until it is revoke Stuck certificates may No. 1. Chapter 17.-Page 21, parn. 23 Add the following as new sub-para. under paragraph 23:- « The l'ublic Delt Omices at the time of issue of interest warrants on Stock Certificates relating to loans, interest on wbich is liable to incometar, will ic811e to the registered holder of Stock Certificate a certificata ar prescribed in section 16, clauses (3) and (9) of the Income-tar Act (Act XI of 1022) showing that income-tax las been deducted at the maximum rate (to Le specified) and the amount so deducted. (1st list of corrections, dated the 30th Jore 1922.) a suv-llcasur), 10 the treasury to which such sub-treasury is subordinate. If, however, thic proprietor so prefers, his warrants will be sent by post to liimself, or to his bank or No 2 Chapter IP.- Page 21, para. 23 - In line 3 of the Yote nade, para º fur the words "at the Gangtok Po! Odlice" read " at the Gangtok, Gsalior R. S. anl l'udakotal-Trichino pols Pet Oflices" (tot list of corrections datel the 30th June 1991 ·22 Para. 243 PAYMENT OF INTEREST. Procedure at Treasurica that pay. 24. In either case, riz., whether the warrant has been sent direct to the treasury, or is presented for payment by the proprietor or his agent, payment will be made in the usual way, and with the same precautions, as on any duly authorised pay order or cheque, ie, the Treasury or Subtreasury Officer will be responsible for sceing ment is made to the proper person When a warrant is received by a Tressury Officer direct from the Public Deht Office he will adopt the following procedure (a) Ile will enter the detuls in the register of Interest Warrants (Form 3) (1) If the warrant is payable at a sub-treasury subordinate to him, he should, after entering the details as in (a), torward the warrant to the Sub-treasury Officer. (c) The Treasury or Sub treasury Officer should advise the payce of the arrival of lus interest Warrant If cight months elapse without the payce having taken payment, the Treasury Ollicer should remind the payee that he has not cashed his warrant, and should inform him that if he does not do so within ten days, it will be returned to the Public Debt Office Should this reminder have no cflect the Treasury Officer will eturn the warrant (together with the next following onc, which he will have had for two months) to the Public Debt Ollice concerned, and will mark them off in the register as thus returned. The Public Debt Office will retain them until they are claimed Whenever an interest warrant is issued lụy the Public Debt Office, cither to a treasury direct or to thic proprietor of the stock, advices are sent to the Treasury Oficer concerned. In the case of a warrant payable at a sub-treasury, tlie Treasury Onicer should at once send intimation ·PIYCXT OF INTEREST. [Paras. 24-26. of the advice to the Suh-treasury Officer If, however, a parrant is presented for payment before advice of its Issue has been received from the Public Debt Office, payment should not he refused merely on that account, if the Treasury or Sub-tream Officer has no reason to suspect the genuineness of the warrant, and if he is satisfied that the person presenting it for payment is the payec named therein or an agent duly authorised to receive payment on I an intima No 4. Chapter Il'.- Page 23, para. 24– Substitute "Stock“ for “School" in the 2nd line of the note under para 21, (1st 1- of criectiuns, dated the 30t): June 1922) Each coupon pyment. 2.7 Bearer bond have attached to them a number of Method and place of interest coupons wich are detachable relates to the interest for one half-year, and lears on its face the date on wlueli it is payable Interest for each half-year is payable, without presentation of the bond itself, to any person who presents the relevant coupon at the Public Delit Office at Calcutta, Bombay or Madras, according to the domicile of the bond (ride the next paragraplı) or at tlic treasury at which the bond is registered for payment of the coupons. 26. (^) Each hond is regarded as domiciled at one of Change of the Public Debt Onices, riz, Calentta, Bombay or Madras, que coment and, in the absence of any other arrangement, the coupons are payable it the place of domicile of the bond Any holder can, however, by applying to the Public Delit Onice of domicile (either direct or through the Treasury Officer concerned) arrange for his bond to be registered for payment of the coupons at any treasury within the sphere of the Public Debit Olice concerned, and the latter will jnstrict the Treasury Ollicer accordingly. Should the holder ·24 Paras. 26, 27] PROCEDURE AT TREASUTIES FOR PAYMENT OF INTEREST subsequently desire the coupons to be made payable at a different treasury. within the sphere of the same Public Debt Office, transfer of registration will be permitted on application being made therefor (1) The domicile of a bond may be transferred from 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 Ofice to which it is desireil to transfer it. Thereafter, the coupons will be rayable 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.- (u) The loan to which the bond relates; (6) The amount of interest glue on the coupon; (c) The number of the half-yearly dividend; (d) The amount of the bond; (c) 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 vluch the coupon appertains, and the production of the bond itself is therefore not requireri. Before paying a coupon, the Treasury Officer has to satisfy liimself on two points only :- (1) That the bond to which the coupon belongs is registered for payment of coupons at his treasury: 1'rocedure at Troleuries ·25 [Paras. 27-29 PROCEDURL AT TREASURIES FOR PAYMENT OF INTEREST. (ii) That the date ae printed on the coupon, on thich the latter is clue for payment, las arrived The Treasury Office ivuld remember that coupons are No. 5 Chopter 11'-Puge 26, para. 17– Add the following in continuation of the last sub-paia. :- “Treasury Offeers at the time of payment of interest on such bonds skould isèue to the security holder a certificate as presented in section 18, clau-es (3) and 9) of the Income Tax det (Act XI of 1922) in Form 20 showing that incomc-tax bas been deducted at the maximum ate (to be fpecified) and the amouut so deducted. (1st lut of cor ect.oe, datci tbc 3911. June 1922) llie Lilluunil LUUC A bul, trisut 104. 25 Wierta lund las heen registered for payment of raymont nt coupons at a tresin y, the coupons may, on application being made to the Treasuy Officer, be made payable at any sub-ticasury subordinate to such ticasury The Treasury Officer will issue an order in Form 4 to the Sub-treasury Officer, giving the particulars of the bond. On presentation of a coupon, the Subs-Treasury Officer should satisfy liimself, by reference to the particulars printed on it, that the loond to which it belongs is one regarding which he has receiver instructions to pay coupons, and that the coupon is due for payment. Having paid the coupon, he should stamp it " Paid” and forward it as a roucher to the Treasury Officer with his daily sheet. The Treasury Officer will then enter the particulars in the register prescritas! loy the preceding rule, treating the coupon as if it had l»«? paid at the treasury itself. 29. For the purpose of recording the registration ! I'm op bonds at a treasury the Treasury Officer will maintain its ·20 Paras. 29, 30] PROCEDURE AT TRC ISURICS FOR PAYMENT OF INTEREST. coupons nie Tayablo at a treasury register in Form 5 a separate section being set apart for each loan On receipt of advice from the Public Debt Office of the registration of a bond or londs for payment of coupons at his treasury, the Treasury Officer should at once inake the necessary entries in columns 2, 3, 4, and 5 of the register, a serial number being also added in column 1 for cach bond Whenever coupons are paid, the Treasury Officer should make the necessary entry in the relevant column under “ Particulars of coupons paid,” stating the half-year or half-years 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 frotti which register a sthedule should be copied to accompany the list of payments and the coupons for submission to the Accounts Office. When coupons relating to a bond registered at a treasury are pand at the Public Debt Office of domicile (orile paragraph 26 (c) above), the Public Debt Office will send immediate advice of such payment to the Treasury Officer concerned, and on receipt of such advice the fact should at once le 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 payn:ent of coupons, the necessary particulars should be entered in the column 8 of Form No. 5 and tlic entry cancelled. 30. («) At the close of each year every Treasury Officer should make a return in Form 7, giving details of bonds remaining on his register for payınent of coupons. (1) In the case of treasuries situated within the Presiciencies of Bombay and Madias the above return should bo submitted to the Public Debt Office, Bombay or Madras, as thic case may lie (c) In the case of other treasuries the return should bo submitted to the l'ublic Dent Office, Calcutta. - ·27 [Paras. 31, 32 CNTACEMENT OF NOTES, NO -.1 banh retun shoull be sent by those treasuries much harr 30 und Bernstereil for payment of coupons at the place. (r) Promissory Notes. 31 According to the ording of their promissory Placo of menont. motes the Government of India are legally liable to pay interest only at " The General Treasury at Fort William," suhe Tal Danl of Trulia No. 6. Chapter IV.–Pages 27-28, para. 32- Substitute the following for the existing paragraph : (a) The Pullic Debt Office, Calcutta, will enface Notes for paymeut of interest at Bombay or Jadras or at any treasury or subtreasury in India and will re-enface such Notes for payment of interest at Calcutta. ?) Notes enfaced for payıncut of interest at Bomlay and Madras may be re-efaced by tbe Local llcad Offces of the Imperial Bank of India, Pomlay and Jiddias, for payment of interest at any treasury or sub-treasury in India and at Calcutta. Also Votes enfaced for payment of interest at any treasury or subtresury in India may be re-enfaced fur jasment of interest at Bombay on Vadras by the Local Ilead Office of the Imperial Bank of India; Bomlay or Madsas, as the case may be. The Lucal licad Oflices of the Imperial Bank of India at Bombay and ladras may cnfule Notes from any treasury or sube treasury direct to any other treasury 01 sub-treasury in Ladis. {) Notes enfaced for payment of interest at any treasury or subtıcasury in the Buinbar or Madras Presidency, way, be rccufaced for payment of interest at Bombar or Madras also by the Treasury Officer coocerned « Notes enlaeed for payment of mterest at the Local lleau Ofices of the Imperial Bank of India, Bombay and Madras, may le re-enfaced by either Local Head Ollice for payment of interest at the otber Local IIcad Olice of the Bank. (e) In any case pot corered by the above instructious of reference should be inade to the Public Debt Oflice, Calcutta In order that the Local Head Oil'ces of the Imperial Bank of India at Bomlay and Jadras may effect the re-enfacements referred to in clause (0) abore it is necessary that Treasury Ollicers on receipt of intimation of notices of stoppage from holders of securities should forth with send coinmunications to the Public Debt Olices, Bomlay aod Vadas, direct besides the communication to the Public Debt Office, Caleutta (latit cf corutine, datel the 30•L Juge 1922) ·28 Paras. 32, 33] TREASURY PROCEDURT IN RECORDING EN- FACEMENTS AND FOR MAKING RE-ENFACEMENT. Treasury procedure for recording enfacements and for making ro. enlacements or Madras, as the case may be, either by the Public Debt Olice concerned or by the Treasury Officer (d), Notes enfaced for payment of interest at any place in India will be re-enfaced for payment at Calcutta by the Public Debt Office, Calcutta. (e) In any case not covered by the above instructions a reference should be made to the Public Deby/Onice. 33 (r) For the purpose of recording enfacements the Treasury Officer will maintain a register in Form I, a separate section heiny set apart for cach loan. On receiving advice from the Public Debt Olice 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). (b) Whenever interest on any note cntered 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 Office, Calcutta, under paragraph 31. (c) On receipt of advice from the Public Debt Ollico of cancellation of an enfacement, or after himself making al re-enfacement under clause (c) of paragraph 32, tho Treasury Officer will at once delete the entry relating to the enfacement and will not thereafter pay interest on such yote. 1 ·20 TREASURY PROCEDURE IN RECORDING EN [Paras. 33-34 FACEMENTS AND FOR MAKING RE-ENFACEMENT. (d) Before making a re-enfacement under clause (c) of paragraph 32, the Treasury Officer should see- (i) that the note is enfaced for payment of interest at his treasury or a sub-treasury subordinate thereto and is entered on his register; (ii) that the application is made by or on behalf of the holder, (iii) that there are vacant spaces on the back of the note for endorsements and for noting interest payments, and (iv) that there is space on the face of the note for the order for transfer, if the note already bears more than two en facements the holder should be told that he must get it renewed. (e) If satisfied on the above points, the Treasury Officer will write the words “Enfacement cancelled" with his signature and official designation across the existing enfacement on the note and under it fill up the new enfacement authenticating it with his signature, and making the interest payable at Madras or Bombay, as the case may be. He will simultaneously note the transfer in his register and send advice to the Public Debt Office, Calcutta, and to the Local Head Office of the Bank concerned, in Form 10. (1) In all other cases of re-transfer, application should be made to the Public Debt Office, either through the treasury at which the interest is payable or through the treasury at which payment of interest is desired, or direct to that office. 34. At the close of each year every Treasury Officer Annual should make a return to the Public Debt Office, Calcutta, in enlaced notes Form 11 giving details of promissory notes belonging to the fulle cach loan standing on his register as enfaced for payment of interest at his treasury. A blank return should be sent c2 ·30 Paras. 35, 36) CONDITIONS FOR PAYMENT OF INTEREST AT TREASURIES. by those treasuries which have no notes enfaced for payment of interest at them. Payment of Interest at treasures Treasury Officer's reg. 35. Government is responsible for the payment of interest to the actual owner of a note As the ownership of a note is transferable by mere endorsement, it is of 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 may itself be defective, by reason of some legal defect in earlier endorsements. Treasury Officers should therefore be careful to satisfy themselves, as laid down in clauses (2) and (3) of paragraph 36, that all the endorsements are in order, and they, as well as all other Government officers who have to Irandle Government securities in their official capacities, should familiarise themselves with the main facts, regarding the legality of various kinds of endorseents, set forth in Chapter V. In all doubtful cases, or in cases which do not appear to be fully covered by these instructions, Treasury Officers should refuse to pay interest, and should refer the case to the l'ublic Debt Office. 36. Payment at a treasury of interest upon promissory notes is subject to the following conditions :- to paliata tres tury. (1) That the note has been duly enfaced for payment of interest at that ticasury; (2) That the person to whose receipt, or to whosa agent's receipt, payment is asked for, is either the person in whose name the noto was originally Conditions to bo fulfuu teforo interest can ·31 [Para. 36 CONDITIONS FOI. PAYMENT OF INTEREST AT TREASURIES. issued. or one who derives his title from the said person hi a chain of endorsements; (a) cach of which is in one of the forms enumerated in paragraph 41, (1) each of which is signed by the person or persons mentioned in paragraphs 42 to 45 inclusivo as being qualified legally to transfer the note. (3) That, if the person claiming payment of interest Is not the last endorsee, but claims as leir, executor, administrator of thic cstate, guardian, or attorney of the last endorsee, the necessary documents in support of such claim, as set forth in paragraplis 47 to 19, have been produced and registered in the manner described in paragraph 50 (4) That all endorsements are clear and distinct; that at least onc endorsement cage, as well as tho renewal cage, has been left blank, that no word or words are written upon the note acioss any existing endorsement, and that there are no cross-endorsements. (5) That the note itself is not inutilated or torn, or in any way damaged or defective. (Division into an upper or lower half not reckoned as mutilation if the two halves are firmly rejoined.) (6) That interest lias not been left undrawn for ten years Norc.-(1) If condition (1) is not fulfilled, the Treature Officer shoull inform the person presenting the note hor to get it en faced for payment of interest at that treasury. (11) If condition (3) is not fulfilled, the Treasury Office: should, unless the case falls under note (1) lelor, inform the prescuter what documents are necessary to enable Li, claim to receive interest to be admitted.

·32 Para, 361 CONDITIONS FOR PAYMENT OF INTEREST AT TREASURIES, (iii) If But if the Treasury Officer has any doubts in the matter he should refer it to the Public Debt Office. any of conditions (2), (4) and (6) are not fulfilled, or if the Treasury Officer has reason to consider, on other grounds, that the title of the person presenting the note is irregular or not fully proved, he should refuse payment of interest until the note has been renewed by the Public Debt Office. (iv) If condition (6) is not fulfilled, the Treasury Officer should fo ard the note to the Public Debt Offico with a statement of facts and any explanation that the claimant for interest may wish to give. (v) When notes stand in the name of a minor or a lunatie who is incapable of managing lie affairs, the following relaxations of condition (3) aro perinitted :- (1) When the nominal value of the notes standing in the name of the minor vr lunatic does not exceed Rs. 5,000 and when the person trho wishes to drar interest is the father, or if the father be dead, the mother, of the minor or lunatic, interest inay bo paid without question, to lung as the officer paying the intriest is satisfied us 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 Vagistrate may be accepted. (2) When the applicant for interest is neither the father nor the mother and when the value of the potes standing in the minor or lunatic's name does not exceed Rs. 5,000, a certificate luy the District Magistrato of the district in which the interest on tho securities is payable, to the effect that the applicant is the actual guardian of the minor or lunatic, should be accepted.

·33 METHOD OF PAYMENT OF INTEREST. [Para. 37 (3) Where the value of the notes exceeds Rs. 5,000 no relaxation of the ordinary rule is permsible code paragraph 47(3)). 37 (a) It is very important that no avoidable delay Method of should be allowed to occur in the payment of interest, payment. which should invariably be made on the due dates or as soon thereafter as possible Consequently, at treasuries where the payments to be made are numerous, holders who can do so without inconvenience should be encouraged to send in their notes some time before the interest actually falls due, so that any preliminary examination required may not operate to prevent payment being promptly made. A receipt should be given for notes so presented. (6) At each treasury will be kept a supply of the prescribed form of receipt of interest (Form IV in Appendix II) which will be given to any person proposing to draw interest The following instructions regarding the filling in of the receipt should be attended to:- (i) A separate receipt must be given for the notes of cach loan, but any number of notes of tho same loan may be entered in the same receipt if the interest is payable to the same person. (ii) The whole of the interest duc on a note must always be taken, partia) payments illo not allowed. | (iii) Receipts for interest on Governinent securities are exempt from stamp duty. (iv) Signatures in any Indian vernacular must bo transliterated, and a vernacular receipt by a woman must be attested by some respectablo person as to whose identity the Treasury or Sub-treasury Officer is satisfied. (c) The personal attendance of the holder is not necessary; it is sufficient for the Treasury Officer to satisfy bimself, as in the case of any other payment, that tho ·34 Paras. 37, 38] METIIOD 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 over his initials, (ir) In column 8 of the register of cnfaced notes referred to in paragraph 33 above (Form 9); (iii) In a register in Form 14, subordinate to the cash book From this register is copied a schedule which, with receipts attached, should accompany the list of payments forwarded bi-monthly to the Accounts Office (c) Unless the noto relates to a loan the interest on which is not liable to income-tax, the payment should be for the net amount after deducting income-tax as prescribed in the Civil Account Code. ** U) It is particulaıly desirable that, in the preparation of interest receipts and registes, all details, cspecially the numbers and amounts of tho receipts, the numbers of the half-years, or the periods for which interest is paid should be carefully filled in. Experience has shown that inattention to this causes mucli unnecessary correspondenco with the Public Debt Ollice. 35. (a) When a note is en faced for payment of interest pub-troakuro 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 Tiyaxnt of falertat at ·35 METHOD or PAYMENT OF INTEREST. [Para, 38 or another sub-treasury in the same district, le should make an application to the Treasury Officer to that effect. (1) If the note is enfaced for payment of interest at a sub-treasury, the enfacement will read- Interest payable at the -sub. treasury of the --district." The Treasury Officer will cancel the name of the sub-treasury and the prefix 'sub ” in this enfacement and sign the correction Tlie note will then stand enfaced at the district treasury and can be dealt with in accordance with sub-paragraph (c) below. (c) When the holder of a promissory note enfaced for payment of interest at the treasury desires interest to bc paid at a sub-ticasury, or when an advice of enfacement on a sub-treasury is received from the Public Debt Office in accordance with paragraph 33 (a), the Treasury Offica will issue an order in Form 15 giving the number and other particulars of the note, and will make an entry against the note in the register of enfaced notes that payment of interest has been autlioi iscd at the sub-treasury. (d) Columns are provided on the back of the abovementioned form to record the payinents of interest for the various half-years and all the forms will be retained in a special file in the suls-ticasury. On the presentation of a note at the sub-treasury with the usual receipt for interest payment, the officer in charge will sce that the notc stands in the name of and has not been endorsed to any other person by the liolder named by the Treasury Officer and will agree the number and other particulars of the note with the advice from the Trcasuiry Oficer. Ilaving satisfied himself on these points, the Sub-treasury Oficer will pay the interest due, will record the payment in the proper cage in the promissory note and will forward the payment voucher to thc Trcasury Officer with his daily sliect.

·96 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 notes 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 received a fresh authorisation from the Treasury Officer to make payment to the new owner, he should forward the note to the Treasury Officer for orders. On receipt of the note the Treasury Oficer will examine the transfer endorsement and, if it is in order, issue a fresh authorisation to the Sub-treasury Officer in the prescribed form.

·37 ENTJORSEMENTS ON PROMISSORY NOTES. [Paras. 39, 40 No. 8. Chapter 1".--Page 37, para. 39– Deletc tlle word "only" from line 3 of the subject of the para. noted in the margin. (Ist 1 st of correctors, datel the 30th June 1992.) sell, for example, on a piece of paper attached to the note. Every endorsement must be written, clearly and legibly, in one of the endorsement lages provided for the purpose on the back of the note. 40. In paragraph 33 of the preceding chapter it was scrutiny of pointed out, in connection with the payment of interest, ments. that endorsements on promissory notes should be scrutinised carefully, in order to see that the person by, or on whose belialf, interest is claimed, is in fact the lawful owner of the note. There are other occasions, besides payment of intercst, on which Government officers, both Treasury Officers and others, have to deal with promissory notes. Thus, notes may be deposited at any treasury for safe custody, or presented for repayment of the principal, or they may be lield as security, for the due performance of a contract, etc. In all such cases the same precautions should be taken, and whenever there is any doubt as to the ownership of a note or the validity of any endorsement thereon, the officer concerned should refuse to accept it, and should direct the presenter to get it renewed. Before renewing a note and issuing a fresh note in favour of the applicant, the Public Debt Oflice carefully tests the latter's title, and as that office, by reason of its experience in suclı inatters, is the authority best qualified to pronounce an opinion on any question of title or on the validity of any endorsement, it is obviously desirable that Government officers should not take the responsibility of accepting a note or of recognising its ownership, unless the title of the ·33 Para. 41] DITFERENT FORMS OF ENDORSEMENT. Valıd forms ol endorse. ment 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) tho pay order, containing the name of the endorsee, and (2) tho 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) “ l'ay to A and B, jointly." (4) “Pay to A and B or their joint order." (5) " Pay to A or B." (6) " l'ay to A or B, or order." (7) “ Pay to A and B or cither of them." (8) "lay to A and B or either of them or order." (9) " l'ay to 1, B, C, D and E or to any one (or more) of thein." (10) “Pay to A, B, C, D and E or to any one (or more) of them or order." And thic signature should in cach case be that of the person or persons legally qualified to dispose of the note, as described in the succeeding paragraplis 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 beco left blank, the noto should not be received, and the presenter should be told to get tho name or names filled in. endorsement is not worded exactly as above, but obviously conveys the sense of one of these standard forms of endorsemont, it may lie recoguised. For example, the substitution of "Indorsed," " Transferred " or Sold” for the word Par" or the substitution of "any" for "cither" in Nos. (7) and (6) or the addition of the words " or survivor" in Yos. (3) to (10) do not make the cndorsement invalid If an ·39 DITITRENT TORIIS OT ENDORSEMENT. [Paras. 41, 42 1 On the other hand such endorsements as “Pay to A for B," Pay to A. guduan of B" which convey an entirely different meaning to any of the standard forms are invalid. If there is any doubt as to the validity of an endorsement, the holder of the note should be required to present the note for renewal unless he can get the endorsement corrected and the correction attested by the endorser. Of the above forms. (1) and (2) are called simple endorseiments, (3) and (4) are called joint endorsements, and any one of the persons named therein is called a "joint holder." Endorsements in any of the forms (5) to (10) inclusive are called alternatire endorsements. Assuming that a note has alrcady been valıdly endorsed in favour of A, B, C', cte, as in the previous paragraph, it remains to be seen how any fresh endorsement must be signed, in order to make a valid transfer of the note froin the former endorsed or endorsecs, A, B, C, etc., to another party. There are four separate classes of cases to consider. 42. 1.-Mered, B, C, etc., are personal names, without By whom an the addition of any description indicating official capacity, must to legal status, etc. Bigned. (1) Simple endorsements.-() If the note is endorsed by A liimself, and if the signature is in English, it will bo sufficient to see that tliere is no reason to question it. If the signature be in any Indian vernacular, it must be transliterated into English and must agree with the name in the previous endorsement, or on the face of the note, as the case may be. In carrying out this instruction, however, Treasury Oſicers should not reject endorsements or signatures merely because of some variation in spelling in the transliteration of Indian names, provided there is no prima facic reason to suspect that such variation is not in respect of the same individual; for example, "Dinsliah" is frequently written "Dinshaxr;" “Prasad” as “Pershad;" “Ramanujam" as “ Ramanoojam," " Baklısh " as "Bux," ·40 Para. 42] PROCEDURE FOR DEALING WITH VARIOUS FORMS OF ENDORSEMENT. . and so on, and objections should not be raised merely 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, beir, 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 cndorsements by such persons, are given in paragraphs 47 to 50. (2) Joint endorsements.—Except as stated below, the signature of cach 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 casc an endorsement by such survivor or survivors, as the case may be, will be recognised, provided satisfactory proof of death lias been produced. Treåsury 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 l'cace 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, ·41 [Paras. 42, 43 PROCEDURE FOR DEALING WITH VARIOUS TORMS OF ENDORSEMENT. 64 in the following form below the endorsement in favour of the deceased and joint-holders or, in the event of the promissory notes having been specially endorsed by the survivor as such survivor immediately below such endorsement, Proof of death of register No. of (Signed). Treasury Officer. NOTE.—In the first blank should be placed the full name of the person deceased; in the next the number of the entry in the register mentioned in paragraph 50 and in the third the initial letter under which the entry has been made, and the year. (3) Alternative endorsements.-In these cases, the note may be validly disposed of by either A, or B, or C, etc., acting singly, unless the endorsement has made the note payable to more than one of the holders, e.g., "Pay to A, B, C, and D, or to any two of them," in which case signatures of the specified number of the holders must appear, befora the note can be regarded as having been validly transferred. When the note is endorsed to two or more persons severally and either or any of them dies, it may be validly disposed of by the survivor or survivors of those persons or the representative of the deceased or any of them. 43. II.-A, B, C, etc., are personal names, but with the addition of some description indicating official capacity or legal status, etc. For example, the last endorsement may have been like this: “Pay to A, Secrctary of the Sanatan Dharm Sabha." or “ Pay to A, Accountant General, Bengal." or “Pay to A, Managing Director of Company, • Limited." and so forth.

·42 Para. 43] PROCEDURE FOR DEALING WITH VARIOUS FORMS OF ENDORSEMENT. Two exceptions. (0) Govern ment OM.cern. The general rule in such cases is to disregard entirely the designation added after the name, and to treat the noto 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 he qualified to dispose of the note, not as A's heir, executor, or personal representative, but as being A's 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 two exceptions :- When the designation, added after the personal name, is that of a Government officer or an officer of an Indian State or of the Ceylon Government, then, if the office in question is one of those mentioned in Appendix III, the personal name should be disregardeil, and the note dealt with as if it fell under paragraph 45 (3). If, however, the ollicer is not one of those so mentioned, the officer concerned should be told to make a reference to the Deputy Controller of the ('urrency who will instruct him what steps to take to get the matter regularized. Trouble will be saved if Government officers, before getting promissory notes encorsed to them in their official capacity, take care that their personal names are not entered in the endorsement. The second exception is the case of the administration of an estate. For example, if a note has been endorsed Pay to A, executor of B,” or “Pay to A, administrator of B's estate," it may be validly transferred by A to anotlier party, provided (1) 1 signs himself as erecutor of B, or administrator of B's itate, and () incutors and Adminis Irin.

·43 PROCEDURE FOR [Paras, 43-45 DEALING WITH VARIOUS FORM OF ENDORSEME.T. (2) A las produced the necessary documents, establishing his claim to dispose of B's property, as laid down in paragraphs 47 to 50. Nutr -If the Treasury Officer finds that this rule is giving trouble to a holder of promissory notes, his attention should be called to Rule 7 of the Rules under the Indian Securities Act (vide Appendix II), which permits Government stock to be held by a person in his official capacity. Applications under this rule should be addressed to the Public Debt Office The Deputy Controller of the Currency, Bombay, will pasg orders on applications dealt with by the Public Debt Ulice, Bombay, in all other cases orders will be passed by the Controller of the Currency. 44. III.-Where A, B, C, etc., are personal names, but represent the name of a mercantile firm. For example: - 'Pay to Thos Cook and Sons." 'Pay to Messrs. Sant Ram, Anant Ram." When a note, so endorsed, is transferred, it is necessary to see that the transferring endorsement bears the usual signature of the firm. In the case of a well-known firm this will probably present no difficulty, but in other cases special care slould be taken not to recognise the endorsement as valid until the signature has been verified. 45. IV.-Where A, B, C, etc., are not personal names. Thus, a note may have been endorsed in favour of a Bank, or of some other body corporate, such as a Port Trust, Municipality, etc., or of some office-holder. These are dealt with separately below. (1) Banks. Properly incorporated banks can hold Government securities in their registered name, and the title to promissory notes so held by a bank can be transferred by the endorsement of the Manager or other duly constituted attorney. Most banks have given such authority to their branch Agents. In the case of any well-known bank, >> ·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 netv 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 bodv 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 be generally known. But in all other cases, and particularly when the body is now or is little known (e.g., if a note stands in the name of such a body as “The Society for the pro. motion of widow re-marriage") a reference should be mado to the Public Debt Office. (3) Office holders. Subject to the important exception mentioned below, an endorsement in favour of an office. holder (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.

·ENDORSEMENTS CONTAINING A TRUST. [Para, 46 46. In paragraph 41 it was said that endorsements, in Trust which the pay order does not obviously convey the sense of one of the forms there mentioned, should not be recognised. A common form of such irregular endorsements are those in wlich mention is made of a trust, eg., "Pay to A, Trusteu for B," or "Pay to A. Guardian of B," or“ Pay to Judge of A, on account of B's security." Government does not undertake any responsibility as regards such endorsements, If they did so, they would not be discharged of their liability, in respect of their original undertaking, hy simply making the payment to A. for he may have ceased to be B's trustee, and Government would be accepting an obligation which would lead to much trouble It is for this reason that sectinn 3 of the Indian Securities Act lays down that no notico rif any trust, in respect of any Government security, shall be receivable by Government Persons who endorse notes in such a way do so, therefore, at their own risk Tho words, in such endorsements, indicating the trust, should be regarded by Treasury Officers as so much surplusage, and whenever such a note is endorsed to or by A as a trustee, or in any similar capacity, hic should be treated in all respects as the owner of the note in his personal capacity. Although, however, this is sufficient to discharge Government's responsibility it is desirable that Treasury Officers should advisc A to get the note renewed in the name of the beneficiary, as a measure of self-protection against any liability which he might otherwise incur, in respect of his trusteeship, owing to liis having dealt with the notes in his personal capacity. This is particularly desirable in thin case of a guardian, who should always be advised to get a Guarlanalp note, which lias been made payable to him in his capacity 'of guardian, renewed in favour of the minor thus" Pay to B under the guardianship of A." Before issuing a new note in that form, the Publie Debit Onice will satisfy itself that A is the lawful guardian of B, thereby safeguarding the minor's interests, ·46 Para. 47] DOCUMENTS NECESSARY TO ESTABLISH CLAIMS TO DEAL WITH NOTES BY A PERSON OTHER THAN THE LAST ENDORSEE. claim to doul with notes by a person other endlordeo NOTE --If the rule that endorsements by trustees on promissory notes cannot be recognised causes inconvenience in any case, the 'Treasury Officer should call the attention of the persou concerned to Rule 6 of the Rules under the Indian Securities Act (Appendis II) which allows Government stock to be registered in the name of a trustee. Applications under this rule should be addressed to the Public Debt Office. The Deputy Controller of the Currency, Bombay, will pass orders on applcations dealt with by the Public Debt Office, Bombay. In all other cases orders will be passed by the Controller of the Currency. l'roduction 47. In paragraph 12 (1) (b) it was pointed out that, if and registration il note is endorsed by some person other than the last of documents to establichendorsce, the endorsement is valid only if the signature is that of a person who has a legal right to dispose of the noto on behalf of the last endorsce or of tho latter's estate, and elian tlo lset 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) lleir.—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 V of 1881). Votr.-In the following cases the person having the right to deal in promissory nutes standing in the name of a deceased persou may in certaiu circumstances obtain renewal of the notes in acord). ruce with paragraph 60 without going to the crpienso and trouble of obtaining any of the documcuts mentioned abovo:- (u) If the deceased kolder was a member of 1 Tindu unduviled furnily gorerned by the Jlitakshara lay. (4) If the face value of the securities held by the deceased persu! does not in the agregato exceed Rs. 5,000.

·47 ESTABLISH [Paras. 47, 48 DOCUMENTS NLCESSARY TO CLAIMS TO DEAL WITH NOTES BY Å PERSON OTHER TIAN THE LAST ENDORSEE (3) Guarduun-A guardianship certificate granted by a competent court under the provisions of the Guardians and Wards Act (Act VIII of 1890). NOTE –The father, or if the father be dead, the mother of a Hindu or Maliomedan minor can deal in securities standing in the name of the minor without obtaining a certificate under this Act. (4) Attorney.- A properly executed power-of-attorney (including a sale-power). In this case, however, the examination of the document is usually a matter of some difficulty involving the interpretation of legal terms, and a power-of-attorney, purporting to convey full powers to sell or otherwise transfer securities, should not be recognised without reference to the Public Debt Office. There is one case, however, in which notes may be dis. Exception in posed of otherwise than by the last endorsee or his personal ownership is iepresentative, such as bis heir, executor, attorney, etc. transferred Promissory notes sometimes form the subject of a civil suit, of a couit. and a decree is passed transferring the ownership from ono person to another. In such a case an endorsement, signed liy the presiding officer of the court and to the following effect. "Pay to (Signed)- Judge of the in suit No.- -los- (plaintif) against -(defendant)." should be recognised. 48. These documents must be registered, as described in Distarctos paragraphe 50, at the treasury at which the notes are between cnfaced for payment of interest. The certificates and other documents documents mentioned above frequently limit the power of full powers Court COD Tyn ·48 Paras. 48-50] DOCUMENTS NECESSARY TO ESTABLISHI CLAIMS TO DEAL WITH NOTES BY A PERSON OTHER THAN THE LAST ENDORSEE. and those conveying mited 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 wbich the power is limited to the realisation of interest. 49. Besides the above-mentioned documents, other documents 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 bo 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 Nature, Trousury procedure in roglutening documenta. All such documents should also be registered similarly to those mentione in paragraph 47. 50. For this purpose the Treasury Officer will maintain a register in Form No. 16, and in registering a document be should observe the following instructions :- (1) Two names have to be entered, diz., (a) in tho column " Name of Principal” the name of the person whose property is concerned, and (b) in the coluinn" To whoin granted" the name of the person to whom the document has been issued. (2) Separate pages should be reserved for separato initials, the initial being in each case that of the surname of the "principal." Tbc entries ·46 [Para. 50 TREASURY PROCEDURE FOR REGISTERING DOCUMENTS. 66 under each initial should have a separate series of numbers. (3) C'are must be taken to record the limitations of the power conveyed, so that transfers may not be admitted under powers to realise interest only. (4) Succession Certificates granted under Act VII of 1889 are required to specify the securities to which they relate. The list of securities covered by the certificate should be entered in the column " Description." (5) In the case of probates, etc., and other orders of a court, the name of the court, and any number it may have assigned to its order should be entered in the column “ Date of document." (0) All documents so registered should be endorsed as follows Registered No. (Signed) Treasury Oficer. Date- District (7) In the case of every endorsement or signaturo supported by such a document the number which the document bears in the register, the date of registry, and the nature or extent of power con. veyed should be noted on the back of each note, closely below such signature, and attested by the Treasury Officer's intitials. The nature o: extent of the power should be noted as briefly as possible, e.g., "Probate," "Full letters of administration, “Certificate to negotiate and draw interest." (8) Subject to the exception mentioned below, 110 document liable to stamp duty should be registered . unless it is properly stamped. Letters of Administration or Succession Certificates, ·50 Paras, 50, 511 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 is sufficiently stampel, 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, az power-of-attorney, or any other written authority, authorising one or more of the joint-holders of a note to give a valid dis. charge for interest, is exempt from stamp duty. 51. If an endorsement is signed by a woman, and tho signature is in English, it will ordinarily be sufficient to adopt the same precautions as in the case of an endorsement y a man; though if a note, which has been endorsed to a woman before her marriage, is subsequently re-endorsed by hier in her married name, it may sometimes be necessary, unless the Treasury Officer is satisfied that she is the actuul person named in the previous endorsement, to require a certificate or other proof of marriage (ride paragraph +9 (3)). If the endorsement is in a vernacular, and if the woman goes out in public, she should be asked to come to ladorsomanot. by women.

·01 ENDORSEMENT BY WOMCN. [Paras. 51-53 the treasury and to verify her signature, whereupon the Treasury Officer should write " Verified " under the signature and aflıx his initials and designation. But if the woman is purdanashin, or if she does not go out in public to an extent which would enable her to attend personally at the treasury, it is necessary, for the protection of the interests both of Government and of the holder herself, that her signature should be attested by the signatures of two respectable witnesses, who must appear before the Superintendent of the Public Debt Office, or a Treasury Officer, or Justice of the Peace, or any Magistrate, to testify to the genuineness of the endorsement Such officer should then authenticate the examination as follows “Lxamined before me" (Signed) (Designation) at in the district of Date- 52. If the holder of a promissory note satisfies a Magis- Enoran. trate that lic is for any reason unablc to write and that he mentally is thic person whom he represents himself to be, the Magis- unite tus trate may, at the request of the holder, sign the endorsement on lus belalf if he is satisfied that the holder understands the effect of the endorsement. The Magistrato must sign the endorsement in the presence of the holder and cnter below liis signature a certificate to the eliect that the endorsement was signed at the request of the holder aft:r being read over to him and that he is satisfied that the effort of tlic endorsement is fully understood by the holder. 53. There are two special forms of promissory not, sposal forma which Government officers may occasionally have to dea! Hniert with, (1) Counterpart Notes. These are notes which, for the convenience of the soir, interes have been issued in certain cases, for the rrotectioss of the writo.

·52 Para. 53] 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 estate 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 adınınıstration is limited to interest, the further payment of interest in respect of the note will be refused, until the first or any subscquent counterpart (as the case may be) issued in respect of it has been receipted and renewed. Upon such counterpart being recepted, 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 99. Bpecial note lor Ladu butor (2) Special Notes for Indian States (oide Rule 38 Appendix II). These are issued to Indian Chiefs, in order to make available to the certain special privileges, viz.:- (a) The notes, being issued in the name of the Chief and his successors, desolve by mçre succession to the Raj, without legal administration or other formality: (6) Interest upon these notes is exempt from income tax and super-tax.

·63 SPLCIAL NOTES FOR INDIAN STATES. [Para. 53 The issue of these special notes is subject to the following conditions. (i) They are issued only in favour of Chiefs of Indian States, whosc admission to the privilege has been sanctioned by the Government of India in the Foreign Department. (11) Applications for such notes should be made to the Controller of the Currency by the Political Officer resident in the State, and should quote the order of the Government of India sanctioning the admission of the State to the privilege. (iu) Special notes will not be issued if the total amount involved is less than Rs. 50,000. (2v) Such notes are negotiable by endorsement, as in the case of ordinary notes, but the transferee must convert them into notes in the ordinary form before he can be allowed to deal with them. (v) If such notes are converted into stock certificates or bearer bonds the special privileges attaching to them are lost. Where such notes are required in conversion from promissory notes of the ordinary form the latter should be endorsed for this purpose as follows:- “ Received in lieu of this note and notes Nos....... (mentioning the numbers and amounts of the other notes and the Loans to which these belong) a note in the special form of the loan of in favour of his successors with interest payable at the treasury." Signalure of the holder or his duly authorised representative.

·54 Paras. 54-571 RENEWAL OF SECURITIES. CHAPTER VI. RENEWAL OF SECURITIES, 54. The rules in this chapter deal with the issue to lolders 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 Stock 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 payiuent of coupons, the bond being presented with the application. When a bearer bond 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 inay be in any forın) to the Public Debt Ollice concerned. llo should grant the presenter a receipt in Form 17 and forward the bond to the Public Debt Office, without cutting it, iusuring it as of the value of Rs. 100. A register should Le maintained in Form 2 for watching the disposal of all such bonds. NOTE.a. Yo fee is payable in respect of the renewal of a bearer lond. 57. In the case of promissory notes renewal may be either optional or compulsory; in either case it is of con- وعملد۱۲ Bolet ·55 PENEWAL OF PROMISSORY NOTES [Paras. 57, 58 of renewal. siderable importance both to Government and to the public. The importance arises from the fact that a reneved promissory note is an entirely new contract with the person in whose favour it is issued Consequently, if the old note is not properly discharged, both the old and the new contract remain in forle The bolder of a note may, indeed, receipt or discharge it for renewal and get a new note in his own Importance name, but if he is not the person who has power and right to discharge the old note, there will still be claims on Government under it, independently of those under the new note, that is both will be in legal force at the same time. Tho Public Debt Office, therefore, is careful not to issue a new engagement until the cancellation of the old one is in proper legal form, the mere issue of a new note does not cancel the old 58. The fact that renewal gives a clean title to a noto makes the right to claim renewal, that is, to have Government's obligation to the holder admitted and declared, an important one. A person who receives a note may be to soine extent doubtful of the validity of the chain of endorse. ments, but by receipting it for renewal he can always raiso the question and have it decided. Similarly, from the point of view of the interests of Government; when a note is presented at a treasury or at any other Government Office, and when there is any question as to the validity of the endorsements thereon or as to the ownership of the note, the Public Debt Office should have the opportunity, which renewal affords, of examining the title to the note before any act is done which binds Government to admit the holder's ownership. It is for this reason that, in paragraph 36, Treasury Officers have been instructed to refuse to pay interest whenever any of the endorsements are other than such as may be accepted without question under the provisions of Chapter V. All other Government officers who reccire notes by endorsement should likewise, unless tho validity of the endorsement is clear and beyond question ·50 Para. 59] WHCN RENEWAL IS NECESSARY. Y- When renewall necessary. have the title to such notes tested by the Public Debt Offico 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 convenienco brought together and enumerated below:- (1) If only sufficient room remains on the back 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) Tf the note hears an enilorsenient which is not in one of the forms enumeratril in paragraph 41, or the signature to which is not that of tho 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-enface. ment. (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 iins ceased to be the property of a minor, or to lelong to an rainte in which aclministration is limited to interest ·57 RENEWAL BY HEIRS or DECTISED HOLDERS. [Para. 60 holders (7) If in the opinion of the Public Debt Office the title of the person presenting the note is irregular or not fully proved GO There are also two cases in which the heirs of Renewal by hours of deceased holders of promissory notes should be advised to deceased apply for renewal, namely when the deceased holder belonged to a Hindu undivided famils governed by the Mitaksharn law, or when the deceased Holder was in possession of Government securities of which the nominal or face value does not in the aggregate exceed Rs 5,000 If the title to the notes is not disputed thev can be renewed without the production of probate of a will or letters of administration or a certificate under the Succession Certificate Act, 1889 Renewal, therefore, is the easiest method by which the heir can obtain power to deal with the securities belonging to the deceased person. The procedure is as follows: (n) If the deceased as a member of a Hindu undivided family governed by the Mitakshara law, the person claiming the promissory notes should obtain a certificate from the District Magistrate in the following form :- ** Certified that- (the holder's name), the deceased holder of Government promissory notes Nos. -of the loan for Rs. belonged to a Hindu undivided family governed bus the Miralshara law, that the Government promissory notes formed part of the joint property of the family and that -(the applicant) in the managing (or sole surviving) male member of the family." (b) If the nominal or face value of the holding in Government securities of the deceased person does not exceed Rs. 5,000, and if six months have elapsed since the death of the holder and probate of his will or letters of administration of his estate or a certificate under the Succession Certi.

·58 Paras. 60, 61] RENEWAL BY HEIRS OF DECEASED HOLDERS. the per cent. 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 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 bin a certificate in the following form :- "Certified that- -(the applicant) is the only legal heir of the deceasedthe last bolder of Government promissory notes Nos.------of the Loan of for Rs. -who died on- On production of the promissory notes with a certificato in either of the forms mentioned above the Treasury Oficer 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 note 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 Ollice, Bombay or Madras. .

·69 [Para. 62 PROCEDURE AT TREASURIES FOR RENEWAL OP NOTES. at trearurot when noter 62. (1) If the notes are presented to a Treasury Officer Procedaro, he will despatch them uncut to the Public Debt Office by post registered and insured as of the value of Rs. 100, ate tendered Care should be taken that the registry in the treasury office of all documents connected with transactions entered on the back of the notes is correctly certified against each transaction; (a) In the receipt for renewal the name of the payee of the new note should be correctly and legibly written. (1) In the case of notes required in favour of a European woman, her condition in life (unmarried, married or widow) should be stated. (ii) A receipt should be granted by the Treasury Officer in Form 17 in respect of the notes tendered for No. 9 Chapter VI.–Page 59, para. 62, clause (iii) - In line 5 after the word endorsements” indert " or where the title of the person claiming renen al of the note requires to be established on production of the certificates prescribed in para 60 (a) and (0)". (1st list of correction, dated the 30th Jone 1922) because of some doubt in respect to the endorsements, or where the interest has been left undrawn for ten years or more [vide paragraph 36 (0)]. (id) A note tendered for renewal must be receipted as follows, in the cage provided for this purpose at the foot of the note on the back :- "Received, in lieu hereof, a renewed note payable to (name of holder), with interest payable at Treasury. Signature of the bolder dely aattorinal pe prosentative of (Darde of bolder) ·60 Para. 62] PROCEDURE AT TREASURIES FOR RENEWAL OF NOTES. If, horrever, the person tendering a note for renewal applics for more than one note in licu 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 lieu herenf, tro (or more) untee for Rs respectively, payable to (name nt holder), with interest payable at Treasury. Signature of the hol.ter duly nathriscul representative of (name of bolder). 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: "Receired, in lieu liercof, a new note payable to (name of holder) for R9 by consolidation with promissory note or notes Nos. (mentioning the numbers and amounts of the other notes desireil to be consolidated with it and specifying the loan) with interest payable nt - Treasury. Signature of the botter daly anthorsel representative of (vame of Lolder). (o) 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 pere note. The name of the holder, as signed by him or as entered by the duly authorised repre- .sentative below his own signature, should agree with the ·61 FEES FOR RENEWAL. [Paras. 63, 64 name in the body of the note, or in transferring endorsement, as the case may be. 63 (a) The following fees are payable in respect of Feca payabl applications for renewal or issue of a duplicate note For each note four annas per cent. if the new poto does not exceed Rs 400, and one rupee per note if the new note exceeds that sum, (b) The fact of receipt of the fee should be recorded on the back of the note by the Treasury Officer and the amount credited in the cash account as "Renewal fee on G. P. Note for Rs. as per advice No dated to the Public Debt Office, (Calcutta, Bombay or Madras, as the case may be),".care being taken that the No and date of the advice (Form 27) are entered in the cash account before the advice is despatched. The coupon attached to the advice should be filled up and despatched with the advice. (c) No fee is payable in respect of the renewal of a note which bears no endorsement other than an endorsement by an officer of the Imperial Bank of India (or of the Presidency Banks before amalgamation), the Controller of the Currency, his Deputy or Assistant, or an Accountant General, his Deputy or Assistant, and the renewal endorsement by the person in whose name the note stands endorsed, or when such renewal is required only on account of thero being no further space on the note in which to record payment or en facement for payment of interest. 64. When a promissory note receipted for renewal Defectivo comes before a Public Deht Office, and the title appears defective, the Public Debt Ollice will not pass an order for the payment of interest until such title is cleared, or tho following procedure is adopted :- (a) Where the defect is formal only, so that the risk in overlooking it is small, the noto may be za title.

·62 Paras. 64-66] PROCEDURE IN CASES OF DETECTIVE TITLE. renewed at once under a bond of indemnity, which should be for twice the value of the note. (6) If the defect, however, be a scrious 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 refuse 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. 65. When there is a dispute as to the title to i missory note in respect of which an application for renewal has been made, the Public Debt Office refers the case to the Controller of the Currency for orders under section 13 of the Indian Securities Act. NOTE.-The Public Debt Office, Bombay, refers such cases to the Deputy Controller of the Currency, Bombay. 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. Dispute as to title pro- Interest on potom under renowal.

·69 REPAYMENT OF TERMINABLE LOANS. [Paras. 67, 68 CHAPTER VII. PROCEDURE FOR REPAYMENT OF TERMINABLE LOANS. 67. The Government of India are legally liable to place of répay the principal of their terminable loans only at the paymont "General Treasury at Fort Willianı in Bengal,” but for the convenience of the holders of these loans arrangements are made to repay the principal at the treasury or subtreasury where interest is payable. The subsequent paragraphs of this chapter give the procedure which should be followed in paying the principal of any loan when it falls due, but Treasury Oficers and Sub-treasury Officers should take no action to repay the principal of any security of any loan until they have received special instructions to that eliect from the Deputy Controller of the Currency. 68. No payment should be made on a security regard- No payment ing which an application for stoppage has been received at treapunes and which las been included in the list of stopped securi- soaurities. ties sent to Treasury Officers. Before transactions in connection with the repayment of any loan start, Treasury Officers should scrutinise the list of stopped securities and rote in the register of bearer bonds (form 5), or in the register of promissory notes (Form 0), or in the last advices of issue of stock interest warrants payable in the district received from the Public Debt Office in accordance with paragraph 24, the securities of which pay. ment has been stopped. If the interest on any such security is payable at a sub-treasury, an intimation regarding its stoppage should be sent immediately by the Treasury Officer to the Sub-treasury Officer concerned. Whenever any, security included in the list of stopped securities is ented for payment of the principal, the case ·64 Paras. 69, 701 REPAYSIENT OF TERMINABLE LOINS. be referred to the Deputy Controller of the Currency for orders. Bearer Bonds. 69 The honds 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 boohs they tanıt 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 tho certificate itself which should read "Received the principal duo 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 ·. 85 REPAYMENT OF TERMINABLE LOANS. [Paras. 70, 71 appears on the face of the stock certificate or his duly authorised representative, empowered under a power-ofattorney which should be registered at the treasury, the fact of production being noted by the Treasury Officer on the back of the stock certificate When a stock certificate is produced by the heir of a deceased holder, his discharge can be accepted when the necessary probate, succession certificate or letters of administration have been obtained and registered at the treasury. In such cases an entry should also be made on the stock certificate in the manner prescribed in paragraph 50 (7) and attested by the Treasury Officer's imtials The stock certificates should be stamped “Paid" at the time of payment, the date of payment being noted thereon. Some relaxation of these formalities is permitted when the value of the stock certificate does not exceed Rs. 5,000 (vide paragraph 75 below). NOTE.-A discharge should be accepted at a sub-treasury only then sigued by the registered lolder himself. All other cases should be referred by the Sub-treasury Officer to the Treasury Oflicer, + Officers. note may Promissory Notes. 71. Promissory notes will be paid at the treasury or Inmediato .sub-treasury where interest is payable. Treasury Oflicers suletrosaury and Sub-treasury Officers on presentation of a promissory make payment up to any amount only, () if the applicant is the person in those name the scrip was originally issued, i.e., if the appli. cant is the person whose name appears on the face of the note and there are no transferring endorsements on the back of the note; or (ii) if he is the person to whom the Controller of the Currency or Deputy Controller of the Currency, an Accountant General, a Comptroller, or an Officer of the Imperial Bank of ·6€ Paras. 71-73) REPAYMENT OF TERMINABLE LOANS. Treasury Officers. India (or of one of the Presidency Banks now amalgamated), originally endorsed the scrip. In these cases there will be only one endorsement (in favour of the applicant) on the back of the note signed by any of the officers mentioned above. Cases in which these conditions are not satisfied should be referred by the Sub-treasury Officer to the Treasury Officer and the latter should deal with them under the following paragraph. Procedure by 72. Treasury Officers may also make immediate payment of notes tendered by an individual up to a limit of Rs. 5,000 when the following conditions are all fulfilled : (1) if the applicant is the person in whose name the note has last been endorsed or the legal representative in interest of such person; (it) if the chain of endorsements is in order; (iii) if the endorsements are all by names and not by office; (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 on 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 38 (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). 1 ·REPAYMENT OP TERMINABLE LOANS. [Parss. 74, 78 74. (a) A receipt should be taken from the payed on the note itself. The endorsement should be "Received the principal of the note" or words conveying the same mean. ing (6) The promissory notes discharged should be stamped "Paid" at the time of payment, the date of payment being noted thereon and removed from the register of promissory notes (Form 9). of formalties General. 75 The following relasations of the usual formalities Relaxation should be observed where the aggregate value of the securities tendered by an individual does not exceed Rs. 5,000 :- (a) When the owner is a minor or a lunatic, the discharge of the father, or, if the father be dead, of the mother, may be accepted without question, so long as the officer paying the principal is satisfied as to the identity of the father or mother, either from personal knowledge or from a certificate of identity signed by a Magistrate. If the person discharging tho scrip on behalf of the minor or lunatic is neither father por mother, the certificate of the District Magistrate, to the effect that such person is the actual guardian of the minor or lunatic, should be accepted. (6) When the last endorsee (or in the case of stock the person named in the stock certificate) is dead, the discharge should be accepted of the person certified by the District Magistrate to be the actual heir of the deceased, or entitled to administer the latter's estate. In either case the fact of the'production of the Magistrate's certificate should be noted on the back of the securities tendered over the Treasory Olicer's signature. All ·68 Paras. 75, 761 PEPAYMENT OF TERMINABLE LOANS. Discharge by Uiterate 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. Noir.-In this paragraph District Vagistrate has the meaning given in the esplanation to Section 13 of the Indian Securities Act (vrde Appendıx I). 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 Appendıx 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.

·00 SECURITIES NELD BY GOVERNMENT [Paras. 77, 78 orrICERS. 0 CHAPTER VIII SECURITIES HELD BY GOVERVJENT OFFICERS IN THEIR OFFICIAL CAPACITICS AND DEPOSIT OF PROMISSORY NOTES FOR SAFE CUSTODY AT TREISURIES. 77. Securities are frequently held by Government scope of the rules officers, either as security for the performance of some contract, or in trust for some public or quasi-public purpose, or on behalf of Government, or in safe custody on behalf. of members of the public. In all cases (subject to the exceptions mentioned below) securities held by an officer serving under tlic Government of India must be dealt with according to the rules in this chapter In no caso may bea rer bonds be so held. Exceptions :- (1) Securities deposited in the Indore Residency treasury by Indian Chiefs of Central India. (2) Securities deposited with a Controller of Military Accounts by a Bank as security for the amount of regimental funds held by the Bank. 78. (a) Subject to the exceptions below securities held by officers of Local Governments are dealt with in accordance with the rules in this chapter unless the Local Government otherwise directs. Exceptions :- (1) Securities vested in a Bishop or Archdeacon. (2) Securities deposited with Administrators General. (3) Securitics deposited for salt credits in Bengal, Bibar and Orissa, Assam, Madras and Bombay. (1) Securities deposited with a High Court or the Chief Court in Lower Burma are not dealt with in accordance .

·70 Paras. 78-80) SECURITIES 'TELD BY GOVERNMENT OFFICERS. Goneral. instructions. with the rules in this chapter unless any of these Courts 60 direct. (C) Securities held by Municipalities, Port Trusts and other public corporations may at their discretion be deposited with Government and dealt with under the rules in this chapter. 79. It is of great importance that a Government officer should not, in his official capacity, receive or in any way deal with promissory notes if the title of the presenter, depositor, or other person from whom they are received, is not absolutely clear or is in any way defective He should, therefore, carefully scrutinise the endorsements in the light of the instructions given in Chapter V. If he has reason to think that any of the endorsements (i.e., not only the last endorsement) are irregular, or if, for any other reason, he is not satisfied as to the title of the person presenting a note, he should refuse to accept it and should instruct the presenter to get it renewed by the Public Debt Office. 80. (a) When promissory notes are to be deposited with a Governinent officer for more than five years and it is tho wish of the depositor to draw interest on them during tho period of deposit, the latter should be required to draw all interest due upon them at the time and to endorse them as follows: If the officer with whom the notes are to be deposited is in the Post Office or the Telegraph Department—" Pay to the Accountant-General, Posts and Telegraphs" or 'Deputy, Accountant- General, Posts and Telegraphs." In other cases- In the Madras Presidency—“Pay to the Deputy. Controller of the Currency, Madras." Notes depoasted, for moro than fivo yoare, ·71 [Para. 81 SECURITIES IELD BY GOVERNMENT OFFICERS. In the Bombay Presidency—" Pay to the Deputy Controller of the Currency, Bombay." Otherwise –“ Pay to the Controller of the Currency." 81. When a Government officer receives notes to be deposited with him for more than five years which have been endorsed as prescribed in paragraph 80, he will forward them uncut insured as of the value of Rs. 100, for custody to the officer mentioned below together with a covering list in duplicate in Form 18:— (a) If the officer is in the Military Department-- Controller of Military Accounts or Senior Controller of Military Supply Accounts. (6) If the officer is in the Marine Department-Controller of Marine Accounts, Bombay. (c) If the officer is in the Post Office or Telegraph Department-Accountant-General, Posts and Telegraphs. (d) If the officer is stationed in the Bombay Presidency-Deputy Controller of the Currency, Bombay. (C) If the officer is stationed, in the Madras Presi. dency-Deputy Controller of the Currency, Madras. ) If the officer is stationed in the Punjab or United Provinces-Deputy Controller of the Currency, Northern India. (9) If the officer is stationed in Burma, or the Central Provinces-Deputy Controller of the Currency, Burma, Accountant-General, Central Provinces. (h) If the officer is stationed in Bengal, Bihar and Orissa or Assam or is under the audit of the Accountant-General, Central Rerenues-Controller of the Currency. ог ·72 Paras. 82] SECURITIES HELD BY GOVERNMENT OFFICERS. Payment of Interest, return, or bale. 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. (b) 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, savo 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 noto was transferred. 2. An officer applying for delircry 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. twelve 3. Stock certificates will be sent in lieu of promissory notes, if so desired. 83 (a) When promissory notes are to be deposited Notes deposited for Trith a Government officer for more than 12 months and more than less than five years and the depositor desires to draw months tod interest on them during the period of deposit, the latter live yang should be required to endorse them in favour of the Treasury Officer of the nearest treasury. The Government officer receiving the deposit will forward the notes to the Treasury Officer for safe custody. (b) On receipt of promissory notes from a Government officer in accordance with sub-paragraph (a), the Treasury Officer vill 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 tho 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 Moto with a Government officer for 12 months or less or when for twelve they are deposited for more than 12 months but a depositor legale does not desire to draw any interest during the period, they will reniain in the name of the depositor and should not be endorsed by him to any Government officer. The Government officer receiving the deposit will see that the notes stand in the name of the depositor and that the contract or other document executed by the depositor conveys authority to Gorernment to appropriate or cancel the notes if the contract is not fulfilled. After satisfying himself on these points, the Government officer receiving tho 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 months 01 ·76 Paras. 88-90] INVESTMENTS BY PUBLIC OFFICERS Publication of Accounts 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. Secunty deposits of Banks holding regimental funds under Financial Department Resolution No 39.56-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 insestments on behalf of the Treasurers of Chantable Endowments. 88 The Controller of the Currency or every Account 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 crror in which he is concerned. The lists will be made up in Form 20 and published as soon after January 1st of cach year as they can be made up Municipal 89. Municipal debentures and Port Trust bonds deposited with a Government oflicer e.r-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 Debu: Office or branch of the Imperial Bank of India; otherwise they will be sent by him to tho Controller of the Currency, the Deputy Controller of the Currency, Madras, or Deputy Controller of the Currency, Bombay, as the case may be. 90. The following are the rules regarding investments by public in securities for funds held in trust by public officers for Delentures and l'ort Investments offisers ·77 WITH [Para. 90 NOTES DEPOSITED FOR SAFE CUSTODY TREASURY OFFICERS. some public or quasi-public purpose or on behalf of Government:-- (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 quasipublic 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 possession 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 employed All securities held under such trusts will, subject to the same exception, be dealt with in accordance with paragraphs 81 and 82 abovc. 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 aic not to be sold or given up without the orders of Government. The Local Government will alu, in tlie case of any trust standing in the name of one oſlicer only, issue instructions declaring what second ollicer should be associated in the trust. (III) If in any case owing to any legal or other dilliculty 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 F2 ·78 Paras. 90, 91] NOTES DEPOSITED FOR SAFE CUSTODY WITH TREASURY OFFICERS, Notes deposited by tho public for Hafe Treasury Olicera facts of the case should be reported to the Local Government, and the Local Government will then, by special orrlers, make such arrangements as may be necessary to protect the interests of Government and to secure the safety of the trust funds or securities. 91. (a) Holders of promissory notes may, if they so desire, deposit them at a treasury for safe custody. Such custody with notes should be en faced for payment of interest at that treasury and should be endorsed by the holder in favour of the Treasury Officer. All arrear interest duc on the notes should be drawn before the notes are tendered at the treasury. NOTE.—This facility will not be allowed at the Presidency towns or in districts where the Government treasury business is managed by a branch of the Imperial Bank of India. (1) 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 Clficer and that there are no defects in the previous endorsemients of the nature described in Chapter V. If the appli. cation 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 froin doubt, they should be returned to the applicant who should be asked to remove the irregularity noticed ·+ 79 RETURN OG NOTES DEPOSITED TOR SATC (Paras. 91, 92 CUSTODY. or, if the defects are such as to require the renewal of thic notes, to renew them. (d) A register of receipts and disposals of notes held in safe custody should be maintained at each treasury in Forin 25 and the necessary entries in this register should first be completed before the acknowledgment 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 disposais 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 agreement 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 auto custody in the prescribed forin (Form 24) and should return with wath Treasury it the original acknowledgment of receipt granted by thio Oficers. 'Treasury Officer. (0) On receipt the application should be checked with the accompanying treasury receipt and with the coricsponding entries in the ledger account. Entries should then be made in tlie issuc side of the register of receipts and disposals and the date of return noted in column 11 of Form 23 against the original entry of the notes on the receipt side. The notes slould lic endorsed liy tle Treasury, Oflicer in favour of the depositor. Notc 1.-Whey promissory votes are required through the post, the prescribed form (l'orm 28 iu foil and counter-foil) should lo used. The charges for registrativu and insurance in such cases ·80 Para. 93] REALISATION OF INTEREST ON NOTES DEPti. SITED FOR SAFE CUSTODY. Realisation of interest on notis depositud lor gulo custody, will be borne by Government. When, however, delivery is taken duect at the treasury, an acknon ledgment 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 specified on the reverse." Noie 2. When the interest cages on such notes are exhaustel the 'Tivasury Officer will forward them to the Public Debt Oflice for eneral, the lenewal endorsement being nade by him. 93. («) Interest on promissory notes held in safe custody should be realised as it falls clue. The monthly abstract referred to in paragraph 91 (e) apore will show the total value of notes lield at the treasury on account of rach depositor in the various loans. () The receipt for interest may be prepared in a consolidated form showing in detail the nunbers 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 Govern'nient and adjusted through the personal ledger account referred to in paragraph 94 below. (c) The gross amount of interest due on cach loan should be distributed in an interest distıibution register in l'orm 26 and the net amount payable to each depositor sliould be worked out therein. None.-17 esemptions or abatements of income-tax are claimed, depositors should periodically furnish the Treasury Ollicers with the Collector's certificate of exemption or abatement. The rate at which the inculne-tas is to be deducted should be noted on the particular prage of the ledger with reference to the Collector's certificate. (l) '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 dircct at the treasury, a receipt should be taken from the depositor ·81 [Paras. 93, 94 PERSONAL LEDGER ACCOUNT OF INTEREST REALISED AND PAID. 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 tie 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 monthly accounts in support of the debits under the personal ledger accounts referred to in the next article. 94 A personal ledger account will be maintained at Persona! the treasury in the manner prescribed in the Civil Account account Code in respect of the interest realised on the promissory notes and the payments made against it.

·Para. 95) SALE OR TRANSI CR or STOCK CERTIFICATES. CHAPTER IX. MISCELLANEOUS. Sale or transfer of stock. 95 (a) All sales or transfers of stock must be made in even liundreds of rupees and by transfer to be executed by thc registered holder, or his duly constituted attorney, and registered in the book, of the Public Debt Office concerned. Such transfers are exempt from stamp duty. A blank form of deed of transfer is printed on the back of each stock certificate issued and forms can also be obtained at any Public Debt Office. Forms of special powers-ofattorney for cffecting sales can be obtained free of charge from the Local Head Offices of the Inperial Bank of India, Calcutta, Bombay or Madras, directly or through any Treasury Officer (6) 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 inay, in cases in which this is considered nccessary, require the verification of the transferor's signaturo before a Treasury Officer or other responsible officer of Government qualified to take and accord evidence. (c) In cases where only a portion of the stock is transforied, 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. (11) On application to the Public Debt Oflice, arrangenients will be made to register the liolder or transferee of any stock as a trustee or by the name of his ollice. In the .

·83 (Paras. 96, 97 CONSOLIDATION AND SUB-DIVISION OF SECURITIES. holders. latter case documents relating to the stock executed by the bolder of the office for the time being will be recognised by the Public Debt Office 96 When a registered holder of stock dies the Public Registration Debt Office will ordinarily require probate of his will or deceased letters of administration of his estate or a certificate granted under the Succession Certificate Act of 1889 before registering the name of his heir in his place. If, however, the nominal or face value of the Government securities held by the deceased does not in the aggregate exceed Rs 5,000, section 19 of the Indian Securities Act (vidc Appendix I) lays doin a summary procedure by which his Leir can have liis name registered without going to the expense and trouble of obtaining any one of the above documents. Application for the registration of the name of the heir under this section should be made six months after the decease of the registered holder and should be supported by the necessary evidence regarding the appli. cant's title to the 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 Statc, by the Chief Presidency Magistrate or the Political Agent concerned, the applicant's claim will lic recognised without calling for any further evidence:- " Certified that (the applicant) is the only legal licir of the decc.ised the last lolder of stock certificates Nos. of thc per cent. loau offor R:. ho died on » Consolidation and sub-division of securities. 97. Securities of the same loan; on which interest has Leen 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 Lost 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 TI), as the case may be Promissory notes should be endorsed in Form VIII or IX (in Appendix II) as the casc inay 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 clic 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 nontiansferable 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 destruyed. 99. In the case of stock certificates, as already explained, a fresh certificate is issued by the Public Debt Ofice on Leing satisfied that the old certificate has actually been last or destroyed. In the case of bearer bonds (with or ·.85 TRANSFER OF SECURITIES TO LONDON [Paras. 99, 100 without coupons) or of promissory notes, the alleged proprietor should be directed to address the Public Debt Oſlice on the subject, giving the details set forth in Rulo 22 or Rule 11, as the case may be, of tlic statutory rules (vide Appendix II) The Public Debt Office will then advise him as to the forin of the advertisement of the loss of the bond or note to be published in threc successive issues of the Gazette of India and the Local Government Gazette. The circumstances in which the l'ublic Debt Oflice will issue a duplicate security are set forth in thesc statutory rules to which thc claunant's attention should be drawn. Transfer of Securities to London, 100. l'roprictors of stock who may be desirous of trans- Stock. ferring the whole or any portion of the amount to England may, on application, obtain from the Public Debt Office on whose books the stock is registered a non-transferable certificate, on production of which at the Bank of England the amount of stock so advised will be registered in the name of the payee and a certificate issued for the same. In respect of each such non-transferable certificato issued by the l'ublic Debt Onices a charge will be made at the rate of Re. 1 for every Rs. 5,000 or part of it. Promissory notes may be enfaced by thic Public Debt l'romissory Oflice concerned for payment of interest in London on payment of a fee of Re, 1 pcr note, and such enlacements may also be cancelled by any l'ublic Debt Oflice. Bearer bonds, domiciled in India, may be transferred Beares to the books of the Bank of England, on application being made to the Public Debt Office concerned and on payment of a fcc of Re. 1 per bond. When Government prosissory notes are enfaced for payment of interest in London or when stock is registered at the Bank of England, the interest warrants are issued in the form of rupee drafts which are payable in India at Calcutta, Bombay or Madras, as the case may be. notes. bonda.

·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 sep. thing in section 45 of the Indian eral payees of Government securities. Contract Art, 1872,- (a) when a Gorernment security is payable to two or moro persons jointly, and either or any of them dicy, the sei urity shall be payable to the survivor or survivors of those persong, and (6) when a Government security is payable to two or more prisons severally, and either or any of them dies, the security shall be payable to the sursivor or surlavors of those persone, or to the representative of the deceased, or to any of them. (9) Thus section shall apply atiether sur le death occurred or Of curs before or after thuy let 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 seeunty to which sub-section (1) applies. 5. Notruthstanding anything in section 15 of the Negotiable Instruments Ict, 1881, no indorse. Indursements to be made on security ment of a. Government promissory note shall be valid unless macie by the signature of the holder inscribed on the back of the security itself. 6. (1) In the came of any public oflee to which the Governor Lineral in ('ouncil may, by noti. Jlolding of Government securities fication in the Gazette of India, Ly hulders of publie uffices declare this sul-certion to apply, a (invernment security may be made or inlorsed payable to or to flip oriler of the holiler of the office by the name of the office. (3) When a Government security is maile or indorsed as afore. wil, it shall be deemed to be transferred without my or further indrement from each holder of the office to the succeeding holder of the office on an from the date on whiel the latter tahes clarge of the office. (93) When the holder of the office indortes to a third party a Goserutuent securits made or indorsed as aforesaid. ho shall XXVI of 1951. itsell ·89 APPENDICES. 1831. in India prescribed, subscribe the indorsement with his name and the namo of the office. (4) Arriting on a Gorernment security now or heretoforo standing in the name of the holder of a public office, whereby tho secunty 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 deemed to be or to liarc been invalid by reason only of the security having been so made or indorsed. (5) This section applies 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 Issue of securities to rulers of States Act, 1881, the Governoı, General XXVI of 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 8 Votwithstanding anything in the Negotiable Instruments Act, 1881, a person shall not, by XXVI of Indorser of Governinent security not liable for amount thereof reason only of his laying in. 1881. dorsed a Government security, bo liable to pay any money due, either as principal or as interest, thereunder 9. (1) The signature of the person authorised to sign Govern. ment recurities on behalf of tho Impression of signature on Govern- Government may be printed, en graved or litliographer, or inpressed by such other mechanical process as the Governor General in Council may direct on the securities, A) A signature o printed, engraved, lithograplied or otherwise impiesel alall be as valid as if it had been inscribed in the proper Lundailing of the person so authorised. Issur of duplicate, rencienil, converted, consolidated or subdirideid securitics, 10. (1) When a Government security is alleged to have been lost or destroyed either wholly Issue of duplicato securities or in part, and a person claims to be the person to whom but for the loss or destruction it would ment securities ·90 APPENDICES. be payable, 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 (1) the issue of a duplicate security payable to the applicant. (2) An order shall not be passecl uncler sub-section (1) until after the issue of the prescribe notification of the loss or destruction. (3) A list of tho 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 Gorernment security, payable to bearer, may, on appli- Renewal of bearer bonds. cation to the prescribed officer, on delivery of the bearer bond or other security, and on payment of tho prescubed 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 Nenewal of promisory notes promissory note, may, on applying to the prescribed officer, and on satisfying him of the justice of his clainn and delivering the promissory note receiptel in the prescribed manner, and paying the prescribed fee, if any, oltain from such officer a renewed promissory note payable to him: I'roviileil tlint, when application is made for the renewal of a Gurernment procissory note « dich appears to tlic prescribed officer to tanil in the name of a deccased member of a llindu undivided family governed by the Vitulshara law, a renewed promissory noto shall not be issued to the applicant unless he furnishes a certificate bigned by such authority and after such inquiry as may be prescribed to the effect that the deceased belonged to a Ilindu unditiiled family governed by the Jitakshara law, that the promis. sory note formel part of the joint property of the family, and that the applicant is the managiug or sole surviving male member of 1 family ·91 APPENDICES. Explanation - The espression " Hindu undivided famıly governed by the Mutahshara lar" shall, for the purposes of this sec. tion, be deemed to include a Malabar taruad. 13 (1) Where there is a dispute as to the title to a Government promissory note in respect of Renewal of promissory notes in case of dispute as to title which an application for renewal has been made, the prescribel oflirer may (a) there any party to the disputo has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such note, issue a renewed note in favour of such party, or (1) refuse to renew the note until such a decision has been obtained, or (c) after such inquiry as is hereinafter provided and consideration of the result thercof, declare by order in writing which of the parties is in his opinion entitled to such note and may, after the expiration of three months from the date of such declaration, issue a renewed note in favour of such party in accordance with the provisions of section 12, unless within that period he has received notice that proceedings have been instituted by any person in n Court of competent jurisdiction for the purpose of establishing a title to such note. Explanation.—Foi the purposes of this sub-section the espres. sion final decision means a decision which is not appealable or a decision which is appealable but against which no appeal has been filed within the period of limitation allowed by lay. (2) For tho purpose of the inquiry referred to in sub-section (1), the prescribed officer may himself record, or may request the District Jagistrate to accord or to have recorded, the whole or any part of such evidence as the parties may prodlucc. When such request has been maile 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 sccond class subordinate to him and empowered by general or special order of the Local Government in this behalf, to record the eriilence, and shall forward a copy thereof to the prescribed officer. 0 ·06 APPCNDICES. Penalty. 23. (1) If any person, for the purpose of obtaining for himself or for any other person payment Penalty. of interest or of the capital sum clue in respect of any Government security, or the issue of a duplicate “curity, or the renewal, conversion, consolidation or sub. dirision of a Government spruity or securities, makes to any authonty under thus ict a statement which is false and which he cither knows to be false or does not believe to be true, he shall be punishable with imprisonment for a terın bich may cxtend to sia months, or with fine, or with both, (2) No Court shall take cogmance of any offence under submection (1) sare on the complaint of tlıe authority to whom the falne statement was maule Rulcs. 24. (1) The Governor General in Council may after previous publication male rules to carry Power to niako rules out the purposes of this Act. (9) In particular and without prejudue to the gencrality of the foregoing power, such rules may provide for all or any of the following matters, namely:- (a) tho inanuer in which payment of interest in respect of Government securities is to be made and acknowledged; (O) tho en curustances in which Government securitics must be renewed beforo further payment of interest thereon can be claimed ; (c) the form in which and the conditions subject to which Government securities may be issued to the rulers of States in India; (d) the fees to be paid in respect of the issue of duplirale returities and of the relerul, conversion, consolidation and sub-division of Government securities; (e) the proof which is to be produced by persons applying for duplicate securities; () 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 inentioned in subsection (3) of that section;

·97 APPENDICES, (9) the officer who is to exercise all or any of the powers and to perform all or any of the duties referred to in sections 10, 11, 12, 13, 15, 19 and 21: (W) the manner of making the inquiry mentioned in the proviso to section 12; (1) the circumstances and the manner in which securities other than securities payable to bearer or promissory notes are to be renewed; () the form in which securities delivered for discharge, renewal, conversion, consolidation or sub-division are to be receipted; (h) the conditions subject to which securities may be conviricd, consolidated or sub-divided; (l) the person to whom and the manner in which payments are to be made in respect of Government securities standing in the name of, or held by, minors or persons who are insane and incapable of managing their afairs; (m) the taking of indemnities against adverse claims of third parties from persons who receive payment of interest or of the capital sum due in respect of Government sccurities, who obtain duplicate, renewed, converted, consolidated or sub-divided securities; (n.) the manner in which any document relating to Govern. ment securities or any indorsenient on a Government promissory note may on the demand of any person who from any cause is unable to write, be cxecuted on liis behalf; (o) enabling lolders of Gorernment stock to lie described in the registers of such stock as trustees, and either as trustees of any particular trust or as trustees with. out qualification, and for the recognition of powers of attorney granted by lolders of stock so described; (1) the holding of Goscinment stock by the holders of offices other than public oflices, and the manner in which and the conditious subject to which stork so held may be transferred; (9) the mode of attestation of documents relating to Government stock; or ·08 APPENDICES. (s) gencrally, all matters connected with the grant of duplicate, reneweil, converteri, 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 alloncd or information thereform may be given under scction 22. (3) Nothing in any rules made under clauses (0) and (p) shall, as Isetween any trustees or as between any trustecs and the beneficiaries under a trust, be deemed to authorise the trustees to act otherwise than in accordance with the rules of lar 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 Gorernment in relation Government stock or any stoch holtler, or of anything in any document relating to Government stock, be affected with notice of any trust or of the fiduciary character of any stochholder or of any Induciary obligation attaching to the holiling of any Government stuck. (1) Rules inade under this section shall be published in the Cruzette of Iudia, and shall thereupon arte effect as if enacted in this Act. to any III of 1536 Repeals. 20. Un and from the date on which this Act comes into force, the Indian Securities Act, 1886, Repeals and so much of the First and Sucoud Schedules of the Repealing and Amending Act, 1911, 0.3 ut of 1656. Telates to the Indian Securities Act, 1886, shall be repcaled. of 1914 ·00 APPENDICES. APPENDIX II. > incans RULES I'NDER TUL INDIAN SECURITIES ACT (I or 1920). In esercise of the powers conferred by section 24 of the Indian Securities Act, 1920 (X of 1920), the Governor General in Council is pleased to malo tlic following rules:- 1. (1) These 1 ules may be called Short title and application. the Indian Secunities Rules, 1920. (2) They shall apply only in the case of securities issued by the Governor General in Council. 2. (1) In these rules, unless Definitions there is anything repugnant in tho subject 01 context, - (a) “the Art” naus the Indian Scounties Act, 1920; X of 1920. (0) “ Controller of the Currency means the head of the Currency Department within the meaning of Indian lapci Currency Act, 1910; II of 1910. (c) “Deputy Contioller of thic Curienty" tho office in charge of a circle of issue within the meaning of the Indian l'aper Currency Act, 1910. II o 1910. (cc) “ District Bagistrate" has the same meaning as in tho cxplanation to sub-section (3) of rection 13 of the Act; (d) "Fou" is a Foim as bet out in the Schedule to these rules; (6) "proper demand” meals a demand made iu muiting to the Controller of the Curiency ju accordauce with the provisions of these rules; and " Public Debt Ollicc” incans (i) with reference to u promissory note, the Public Debt Office, Calcutta, (ii) witli reference to stock or to a bearer boud, tlie Public Debt Ofice on the look of which the stock or bond is registered. (2) In these rules, all references to the Imperial Bank of India or to any braucli or local lead oflice thereof shall be construed ·109 APPENDICES. the office described in the account as if his personal name were 80 stated. (4) Before acting on any demand purporting to be made, or on any document purporting to be executed, in pursuance of this rulo by a person as being the holder of any office, the Controller of tho 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. Or (a) Rules relating to promissory notes other than Treasury Bills. 9. Interest on a Government promissory note slall bo paid at the Public Debt Office or at any l'ayment of interest. treasury sub-treasury for payment of interest at which the noto has been enfaced, but only on the presentation of the note itself and on signature by the payee of a receipt in Form IV. 10. The holder of any such note inay be required to receipt the same for renewal in any of the When receipt for renewal may be following cases, and, where such required. requisition has been made, pay. ment of any further interest on such note may be refused until tho note 13 receipted for renewal and actually renewed, namely:- (a) if only buthcicnt 1oom iemains on the lach of the note for une further indorsement ou if any word is written upou the note across any existing indursement or indorsements; (6) if the note is torn or in any way damaged or crowded with writing or unlit, in the opinion of the officer before whoun it is produced for payınent of interest or fur receiving indorsement; (c) if any indorsement is not clear and distinct or lines ant indicate the payee or payees, as the case may be, by Hatne 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. (d) if the note haring 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 long or destruction of promissory note. note which is alleged to hare 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: of the promissory note for Rs. No. per cent. loan of () the last half-year for which interest lias been paid; (c) the person to whom such interest was paid; (dl) the person in n hose name tlie note was issued (if known); (e) particulars of coupons attached (if any); (1) 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 (1) 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 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) a letter signed by the officer of the treasury or the local hicad oflice of the Imperial Bank of India bere interest tras last pail, certifying the last payment of interest made on the note, and, if interest was paid out of Calcutta, to whom it tras made; (d) if the applicant is not the last registered holler, an allidavit sworn before a Magistrate testifying that the was the last legal holder of the promis.

·104 APPENDICES. sory note, and all documentary critlenre necessary to trace back the title to tlc 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 Gorernment 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 sas never indlorsed to any other person, having lost been destroyed notice is hereby given that payment of the above noto and the interest thereupon has been stoppeil at the Public Debt Office, and that application is about to be made for the instie of a duplicate in favour of the proprietor. The public are cautioned against purchasing or otherwise dcaling with the above-mentioned security. Name of person notifying Residence 13. (1) On the expiry of six months from the date of the last notification prescribed in rulo 12, Isus of duplicate note and taking cl indemnity the Controller of the Currency 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 thie applicant, and if a frirtion of the note suflicient for the indentification of the note hos levo proluced, cause the particulars of the note to be included ·105 APPENDICES. in a list such as is referred to in sub-section (3) of section 10 of the Act, and shall order the Public Debt Office to issue to the appli. cant, on the execution of an indemnits bond in tho Form and for the amount hereinafter provided, a duplicate note in place of that of which a portion has been so lost or destroyed. (2) If no portion or no sufficient portion of the note so lost or destroyed has been produced, the Controller of the Currency shall, on the expiry of two years from the date of the last notification prescribed in rule 12, if prima facie ground, erist for believing that the note has been lost or destroyed and that the claim of the applicant 18 just, cause the particulars of the note so lost or des. troyed 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- (a) to pay to the applicant, on the execution of an indem. nity bond such as is hereinafter mentioned, tho interest in respect of the note so lost or destroyed pending the issue of a duplicate note, and (b) to issue to the applicant, unless reasons to the contrary appear (in which case the matter shall be referred back to the Controller of the Currency), on the ex. piry of six years from the date of publication, as bereinafter provided, of the list in wuch the lost or destroyed note is first included and on the execution of an indemnity bond such as is hereinafter nontioned, a duplicate note in place of that so lost or destroyed : Provided that, if the date on which the note is duo for repayment falls earlier than the date on which the period of sis years prescribed in this rule expires, the Controller of the Currency shall, within six weeks of the former date, inrest the principal amount due on the note in the Post Office Sarings Bank, and shall repay this amount, together with any interest which may have accrued thereon in suci Bank, to the applicant at the tine when a duplicate note would otherwise bare been issued. (3) In making an order under this rule the Controller of the Cur. icncy may direct that the indemnity bond be executed by the ap plicant alone or by the applicant and two suretics, as the Controller of the Currenes mar think fit.

·100 APPENDICES. 14. A provisional order passer under sub-rule (2) of rule 13 shall on the expiry of the sis years Alteration of order, etc referred to therein, become final; Provided that the Controller of the Currency may, at any time prior to the issue of a cluplicate note, if he finile sufficient reason, alter or rancel any such order, and mas also direct that the interval before the issue of a duplicate note shall be extended by such period, not exceeding six years, as he may think fit. Indemnity bonds 16. Indemnity bonds sholl, (a) then taken on the issue of a duplicate note or notes, ordinarily he taken as nearly as may be in Form V and le for twice the amount of such note or notes, and ()) when taken on the issue of orders for payment of interest, ordinarily be taken as nearly as may be in Form VI 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 dur theicon during the perioil which will have to elapse before the issue of a duplicate note can be made. (6) Rules relating to Treasury Bills. 15A. (1) Every application regarding a treasury bill allegeil to have been lost or destroyed, Report of the loss or destruction of either wholly or in part, shall be treasury bull addressed to the Controller of thin Currency, Calcutta, (in the case of treasury bills originally issued by the Local Head Office of tho Imperial Bank of India, Calcutta, or the Local Ilead Oflice of the Inperial Bank of India, Madras), or the Deputy Controller of the Currency, Bombay (in the case of treasury lille originally juued by the Local Iead Office of the Iinperial Bank of India, Bombay). Suult application shall be the companied by a registration fee of Re. I per treasury bill and a statement of the follonins particulars, namely: (1) particulars of the number and value of the treasury bill and the local llead Office of the Imperial Bank of India by which it was issuedl; (11) the circuinstances attending the loss or destruction; and (1) whether the loss was reported to the police, ·107 APPENDICES. (2) The application shall be accompanied hs- (a) the Post Office registration receipt for the letter contain. ing the treasure bill, if lost in transmission by post; (b) a copy of the police report, if the loss was reported to the police, (r) an affidavit storn hefore a magistrate testifying that the claimant was the last legal lnlder of the treasury bill; and (d) any portions or fragments which may remain 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 Ilead Office of the Imperial Bank of India which issued the Treasury Bill. 15B. The loss or destrution of a treasury bill shall be further notified by the applicant in three Notification in Gazette successive issues of the Gazette of India and of the local official gazette, if any, of the place whern the lose or destruction occurie! Such notification should be in the form following. or as nearly in such form as circumstances permit:- “Lost” (or “ destroyed " as the case may be). “The Treasury Bill No. for Rs. issued on and maturing after a perjoil of months, lost having been destroyed notice is hereby given that application is about to lie made for payment of the value of the said Treasury Jill in favour of the undersigued." Name of person notifying. Residence. 15C. On the expiry of sis months from the date of the last Payment of amount due. notification prescribed above or on tlic date of maturity of the lost hill, whichever is later, the Controller of the Currency or the Deputy Controller of the Currency, as the case duar le, may, if he is satisfied of the loss or destruction of the treasury bill, and of the justice of the claim of the applicant, pay the value of the treasury bill to the applicant on the cvecution of an inlemnity loud as neonly as may lie in Form 1 for twice the value of the treasury the applicant alone or by the applicant and two surteties, as ·10S APPENDICES. the Controller of the Currency or the Deputy Controller of the Currency, as the case may be, 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 Tould involve risk of loss to Government, he may withhold payment thereof, and in that case shall, within sis weeks of the date of his decision to withhold payment or of the date of maturity of the treasury bill alleged to have been lost or destroyed whichever dato 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 151, if prima facie 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 Thich the lost or destroyed treasury bill was first included, the said investment with nccumulated interest (or the said deposit, if any investment in the Post Office Savings Bank has been made) shall be delivered to the claimant or luis assignee or other legal representative. (c) General 16. (1) The list referred to in rules 13 and 15C shall be publislima kalf-yearly in the Gazette of India Publication of liat in the month of January and July, or ag soon afterw.rde as may be convenient. (3) All notes in respect of which an order hna licen passed under rule 13 shall be included in the first list published next after the pzasing of such order and every treasury bill to be included in the lint shall be included in the first list published after the expiry of the two years referred to in rule 150, and thereafter such notes and treasury bill, shall be included in errry succeerling list until the **xpiration of six years from the date of first publication. (3) The list shall contain the folloning particulars regariling each notr (other than a treasury bill) included therein, namely, the name of the loan, the number of the note, its value, the name of the per. son to whoin it was insurd, the date from which it beare interest, the name of the applicant for a duplicate, the number and date of the order paseal by the Controller of the Currency for payment of ·109 APPENDICES. interest or issue of a ruplı ale, and the date of publication of the list in which the note was first includes and similar particulars shall, as far as posuble. be giren regarding each treasury bill in. cluded in the list. 17 (1) Subject to anr peneral or special instructions of the Controller of the Currency, the Public Torm of receipt for renewal, con. Debt Office Calcutta, Madras or solidation, etc Bombay may, on the application of the holder, (a) renc, sub-divide or consolidate a Government promis. sory note or notes (not being a treasury bill or treasury bille), provided that the note or notes has or have been receipted in Form VII, VIII or IX, as the case mas be, or (1) convoit the note or notes into a stock certificate, provided that the note or notes has or have been indorsed, " Pay to the Governor General of India in Council," or (c) convert the note or notes into bearer bonds prorided that the note or notes las or have been indorsed in Form I (2) Subject to nor general or special instructions of the Controller of thic ('urrenov, the Local Ilearl Oífice of the Imperial Bank of India viurl issued the treasury bill may on the application of the liolder thereof renew it 18. The certificate required under the proviso to section 12 of the Act shall be a certificato Troviso for renewal of promissory notex held by managing member of signed by the District Magistrate Ilindu joint (amily subject to Mistol. after sucli inquiry (if any) as 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 made uniler clause (c) of sub-sertion (1) of that Kection shall be publishırl in three successive issues of the Gazette of India and the loal official Gazettr, as soon as possibile after the date on which the declaration is made. 20. When a promissory note Receipt required on discharge of a is presented for discharpe, a Omsory noto receipt slınd be taken on the note itself. ar to title ·110 APPENDICES, Rules relating to Bearer Bonds. 21, Interest on a bearer bond 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 isstie of a duplicate bond in place of a bearer bond which is, or Report to the Public Debt Office of long or destruction of bearer bond the compons of which are, alleged 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 ralue of the bearer boni and the loan to which it belongs; (2) particulars of coupons alleged to have been lost or in the poggession of the claimant, as the case may be ; (3) the name of the Public Debt Office or treasury at which the bond has been registered for payment of interest; (+) the circumstances attending the loss or destruction; and (5) whether the lose wng reported to the police. (2) Such letter shall be accompanied by-- (a) the Post Office registration receipt for the letter contnining the bearer bond or coupons, or hoth, if lost in transmission by registered post; (b) a copy of the police report, if the loss tras reported to the police: (c) n letter signed by the officer of the treasury or loranch of the Imperial Bank of India, where interest was last pail, certifying the last payment of a coupon with orgarl to the bond; (11) an utiilarit sworn before a Magiatrate teslifying that the applant ra, the last legal holder of the beater land; ant) (c) any portions or fragments which may remain of the luat or el stroyed bearer loped or coupone, or both.

·111 APPENDICES. (3) A duplicate of the letter to the l'ublic Debt Office, but not of its cnclosures, shall also be sent to the treasury at which tho bond is registered for payment of coupons, 23. The loss or destruction of a bearer bond oi coupons, or both, shall be further notified by the Notification in Gazette applicant in three successire 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 bearer boud No.- of the - per cent loan- 68 Coupons relating to bearer bond Xo - of the per cent of for RS (togethes with coupons o without coupons) for Rs. lust having been utile is hereby enen that application is destrused about to be made to the l'ublic Debt Office for the issue of u duplicate in favour of the undersigned. Name of person notifying Residence. 24. Where a bearer boud is reported to be lost or destroyed, and the coupons are in the posses- Issuc duplicate on indempity when Loud only lost or destroyed sion of the preison claiming to lo the owner of the bond and coupons, the Controller of the Currency sball, on the expiry of six months from the date of the last notification prescribed in rule 23, if satis. licd 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 is rcferred to in sub-section (3) of section 10 of the Act, and shall order the Public Debt Office to issue to the applicaut a duplicate bond with coupons and to pay the amouut of any coupons which Bay Le due on the esecution of an indemnity.lond talen is 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. Were both a bearer bond and its coupons are reported to be lost or destroyed, the Controller of Issue of duplicate on indemnity thic Currency, shall on the expiry when Loth bond and coupons lost or destroyed. of two years from the date of the lost notification prescribed in rulo ·112 APPENDICES. 23 if primâ 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 requirug the Public Debt Office, on the espiry 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 cxecution of an indemnity bond taken as nearly as may be in Form V for twice the valuo of the bond and twice the value of the coupons due for payment, and unless reasons to the contrary appear (in which case the matter shall be referred back to the Controller of the Currency)- (a) to issue to the applicant a duplicatu hond with coupous, aud (b) to pay the amount of any coupon which may be due: Provided that, if tho date on which the bearer bond is due for repayment falls earlier than the date on rich the period of sis years picscnbed in this rule espires, the Controller of the Currency thall, wat in six weeks of the former date, invest the amount of the tond in the Post Office Savings Bank, and shall repay this amount, together with uny interest which may have accrued thereon in such Baul, tu tho applicant at the tme when u duplicatu bood would otherwise buse been issued. 20. Where the coupons ouly of a bearer boud are reported to be lost or destroyed, the Controller of 11548 of duplicato on indemnity when cuuwis wuly lust or destruyed the Curreucy slull, on the expiry of two years from the date of the last notification prescribel in rule 23, il premii facte grounds exist for believing that the coupons have been lost or destroyed, and that the claim of the applicant is just, cause thio parlıculars of the coupous su lost or destroy a to be included in a list sach ag is referred to iu sub-section (3) of suction 10 of the Act, and shull ps4 a provin bional order requiring the Public Delt Ollice, on the expiry of six Scars from the date of publication, as hereinafter providel, of the list in which the lost or destroyed coupous are first included and on the esecution of un indrunity bond then as nearly 19 may be in lortu v for twice the value of the coupons due for payment and ·113 APPENDICES, unless reasons to the contrary appear (in much case the matter shall be referred back to the Controller of the Cuircity),-- (a) to issue to the applicant a duplicate bond with coupons, and () to pay the amount of any coupons which may be due, 27. A provisional order passed under rule 25 al 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 Alteration of order, etc prior to the issue of a duplicate bond, ii 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 Indempty bonds indemnity bond be executed by the applicant alone or by the applicant and two sureties as the Controller of the Currency may think ft. 29. The list referred to in rules 21, 23 and 20 shall be published half-yearly in the Gazette of India Pablication of last. 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 lias been passed under any of those rules shall be included in tho first list published next after the passing of such order and in every succueding list until the expiry of six years from the date of first publication or from the date of tho last payment of a coupuu, whichever is the later date. (3) The list shall contain the following particulars in the ense of each bonil included therein, namely, the name of the loan, the number of the lost bearer bond, its value, the dividend bumbers and dates of the lost coupons, if any, the name of the applicant for A duplicate, and the date of publicatiou of the list in which the Lond was first iucluded, 30. Subject to any general or special instructious of the Cop. troller of the Currency, the Public Prescribed officer for renewal, con Debt Office may, on the application of the holder, reper, convert, sub-divide or consolidate a bearer bond or bearer bonds. version, etc.

·114 APPENDICES. A 31. When bearer bond 15 Receipt not required on discharge, etc, of a bearer bond presented for discharge, renewal, conversion or consolidation, no ieceipt shall be required. General 32 Subject to any general or special instructions of the Controller of the Curency, the powers Powers of the Deputy Controller of conferred under these rules on the Currency, Bombay Controller of the Currency may be exercised by the Deputy Controller of the Currency, Bombay, in Iespect of Government securities interest on which is payable within the Bombay Presidency or the Central Provinces. 33 The following fees shall be paid in respect of applications under sections 10, 12 and 15 of the Fees, Act, namely For each repeted, converted, consolidated, sub-divided or duplicate security, annas per cent of the new security does not exceed in amount R$ 400, wud Re. l of the new security esceeds that sumu Provided that no fee shall be payable- («) in respect of the renewal of a bearer bund, and (6) in respect of the renewal of a note which bears no indorsequent other than an indorsement by the Imperial Banh of India, the Controller of the Curency, his Deputy or .ssistant, or an Accountaut General, his Deputy or Assistant, and the tenen al indorsement, or when such renewal is requuell only on account of there being no further space on the note in which to record payment ur enfacement for payment of interest. 31. .lu indemnity bond taken on the issue of a renewedl, con. verted, consolidated or sub-divideo Indemnity bonds security shall be, as fearly as may be, iu l'urin XI and shall be fur twice the annount of the security ur securities, is the case may be, with to sureties. Speciul procedure in certain cases. 35. (1) When a cioserument fecurity stands in the name of or is renumest kordlies held by minor incapable of managing his affairs, held by il minor or a lunatic who is juterest or the capital sum payable - o lunatie.

·115 APPENDICES. on the maturity of the loan may, where, in the case of interest pavable, the nominal value of the sctunity, or in other cases the sum parable, does not exceed five thousand i upecs, be paid to the father or, if he le dead, to the mother of such person on the officer making the payment being satisfied as to the identity of the father, ur mother, as the case may be (2) If such payment be made at a place other than that at wluch such minor or lunatu and his father ur mother ordinarily reside, payment may be made on production of a certificate of identity signed by any Jayastrate (3) When an applicant fo: payment is neither the father nor the mothei of the minor o lunatic, and when the value of the becurities standing in the maine ui such person does not exceed Rs. 5,000, payment may be made ou production of a certificate by the District dlagistiate, to the effect that the applicant is the actual guardian of such person. (4) It the wlue of the securities blanding in the uame of a minor oi luuatic exceeds Rs 5,000, payment shall not be mado unless and until the applicant foi pay mcut shall have produced evidence to the satisfaction of the officer making payment that he is the legal guardian of such person. 36. (1) Subject to any general or special orders of the Contioller of the Currency, a Deputy or Small holdinga of deceased perbuns Assistant Controller of the Curiency or, in the absence of such an oflicci, an Accountaut General ur 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 tacrcise the functious 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 l'ostmaster-General in the case of securities standing in the uame of a deceased depositur in the Post Ollice Savings Bank and lept 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 is to be When maker of a document is un. cxecuted, or by whom an indorseable to write ment is to be suade on n promisory note, satisfies a Magistrate that he is fur any reason unable to write, ·114 APPENDICES. በ :31. When bearer bond 19 liecript not required an disi harga, etc, of bearer bond presented for discharge, renewal, conyrision or consolidation, no Icecipt shall be required Grncral. 2 Subject to any general or special instruction of the Con. troller of the Curionry, the powers Powers of the Deputy Controller of confentel under these rules on the Currency, Bumbny Controller of the Currency may be EXCrcilly the Deputy Controller of the Currency, Bombay, in respect of Government securities interest on which is payable within the Bombay l’residency or the Central Prorinces. :3 The following for should be paid in respect of applications under section, 10, 12 and 15 of the Fees Act, namely:- For each renewed, converted, consolidated, sub-divided or dur. licate security, I annas per cout at the next security does not exceed in amount Rs 100, anl Re 1 of the new security exceeds that sum Provided that no fee shall be payable- (a) in respect of the renewal of a boater bond, and (6) in respect of the renewal of a note which bears no indorsewent other thau an indorsement by the Imperial Bank of India, the Controller of the Currency, liis Deputy or Assistant, or an Accountant General, his Deputy or Assistant, and the ienewal indorsement, or when such renewal 18 required only on account of there being uu further space on the note in which to occord payment or enfacement for paywent of interest. 31. An indemnity bond tuken on the issue of a icnewed, converted, consolidated or sub-divider Indemnity bonds. security shall be, as nearly as may bo, iu l'orm XI and shull be for twice the amount of the sccurity ur securities, as the case may be, with two sureties. Special procedure in certain cases. 35. (1) When a Governnient security stands in the name of or is Goverument securities held by minor incapable of managing his affairs, held by a minor or a lunatic who is interest or the capital sum payable or lopatic.

·117 APPENDICES purpose for which the information is required and of the interest of the applicant in the security 40 The following provisions Disposal of application shall be observed in dealing with applications under rule 39:- (1) If the applicatinn relates to a security which has been renewed, convited, 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 asks for inspection of a security which has been cancelled on payment of the amount due 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 Office may, subject to the provisions hereinafter contained, grant a cortified COPY of any endorseincnt on a security or of any entry in any register or book maintained by, that Vifice relatiug 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 lonê fede interest in the security in respect of which the application is made: I'rovided that if the security las been cancelled un payment of the amount due in respect thereof, no copy of any endursement thereon chall be granted which purports to give title subsequent to the teinunation of the applicant's interest in the security. (4) The Public Debt Olice may, under a special order of the Controller of the Currency, supply any information regarding a security referred to in clause (3) nhich is directed to be supplied by such an oriler. 41. (1) Ercry applicant shall before any information is supplied to him under rule 39 or rule 40 pay a fec of Ne, 1 for each security in respect of which any information is supplied and shall execute a boud of indemnity as nearly ns may be in Form XIII for twice tlie value of the security or securities involved and the interest payable thereon since the date of issue. Fees ·118 APPENDICES, (2) A fee of Re. 1 shall lie paid for each certificd copy granteil, uuder rule 10, THE SCHEDULE. [Sic rule: (1).] PORV I. - (See rule 6.) Form of Indorsement for convorsion of Stock Bearer Bonds Certificates into Promissory Notos • Received in lieu of this stock certificate bearer bonds of promissory notes Rs. each (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. L'ORA JI. (See rulc 5.) Form of Indorsemont for Consolidation of Stock Cortificatos. Received in lieu of stock certificates Nos. for Ns. respectively of the per cent. loan of A stock certificate for Rs. of the per cent, loan of with interest payablo at Treasury. . registered holder. Signature of the his duly authorised representative.

·119
APPENDICES.
FORM III.
(See rule 5.)
Form of Indorsement for Sub-Division of a Stock
Certificate.
Per cent.
Receired in lieu of this stock certificate
stock certi.
ficates for Rs.
respectively of the
loan of
with interest payable at
Treasury.
registered holder.
Signature of the
his duly authorised representative.

·120 FORIE IV. (See rule 9.) Receipt for interest on Government Promissory Notos, Per cent. loan of- Received from the Government Treasury atinterest due on Promissory Notes as follows:--- Yo. of note. N.D.-If the garder win a fractional form, the upper Yo. only need be quot. ed, Amount of each Amount of half- Xote. yearly interest. For bow many lialf.gears interest is due Total ainoant doe. Date up to which interest is due. Name of holder of notes Rs. Rs. Ta. P. APPENDICES. TOTAL Deduct-Income-tar at pies Yet anount payable Total received (in words)- Signature- (State whether holder or holder's attorney or administrator)- ·121 APPENDICES. FORM V. (Sec rules 15, 24, 25 and 26.) Know all men by these presents that we (Principal and 2 buret with addres of each ) are held and firmly bound unto the Secretary of State for India 112 Council in the sum of Rupees of lawful money of Butish India to be paid to the said Secretary of State in Council lis certain attorney successors or assigns for luch payment well and truly to be made we bind ourselves our hers esecutors administrators representatives and assigns jointly and every two of us bind ourselves our heirs executors administrators representatives and assigns jointly and each of us binds himself his heirs csecutors administrators Tepresentatives and assigns severally firmly by these presents scaled rith our respective seals dated this in the Christian year one thousand nine hundred and And cach of us the said day of (Principal buretica) doth hercly for limself his heirs crecutors administrators representatives and assigns corenant with the sail Secretary of State in Council his successors and assigns that if any suit shall be Isrought touching the subject-matter of this obligation or the conitition hereunder s ritten in any Court subject to the superinten. dence of the High Court of Judicature at Fort William in Bengal other than tlic said High Court in its Ordinary Original Civil Jurisdiction the samo may at the instance of the said Secretary of State in Council be removed into tried and determined log the said lligh Court in its Extraordinary Original Civil Jurisdiction.

·122 APPCNDICIS. (Principal.) ha 1929 Whicreas the above bounden caused to be trpresented to the said Secretary of Stnte in Council that lately and until the loss thereof hereinafter mentioned the legal and rightful holder and still is the owner of and absolutels entitled to certain pomysgory pota of the Government of India the number amount and other particulars of which are set forth in the schedulo hereto and that the said Goreinment Promi-sofy fute beirer bord Cometime since (Prio 1.0Tre bond note (trocipal.) And whereas the said having applied to the Controller of thr Currency for New note bearer bond - in lieu of the said Learer bi so alleged to have been as aforesaid the said Controller of the Currency for and on hehalf of the said Secretary of State in Council has on the aforesaid representation of the said (P ncreded to the said application on condition of the said and two sufficient surette executing such bonil as above fritton and the said have accoritingly as such suroties agreed to esecute the sail bond with such condition as hereunder is written not the contlition of the above tritten bond is such that of the above lounden (Surotros ) (Principal and ? Suroties.) noto 30 their heirs csecutors 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 satno to the said Controller of the Currency for the time being or the person for the time being exercising his functions on behall of the said Secretary of State in Council to be cancelleil destroyed or othertrise dealt with as may seem meet and further in case the original of the said promissory note shall have already come or sball hereafter come to the hands of any person or boily corporate whomsorror andler sucli circumstances as may entitle the folder thereof to demand payment of the same or the interest thereof from the ·128 APPENDICES bearer bond said Secretary of State in ('ouncil his successors or assigns or in case the said promissory note or the principal sum therein mentioned or any interest in respect thercof shall at any time hereafter have to be paid or satisfied or received or taken in parment by tho said Secretary of State in Couveıl bis successors or assigns or any officer on person on his behalf then and in either of such cascs if the said (Principal and Suroties.) 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 assign, the amount of the said promis. Tanto silnch shall have come or shall come to the hands of such person or body corporate as aforesaid or thich 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 lvy or occasioned to the said Secretary of State m Council his successors or assigns or any of the Officers Servants or Agents of the Government by reason of or consequent upon the issuing of the -aforesaid and further if the nail bearer bond (Principal and 2 Sureties ) their heirs executors administrators representatives and assigns shall and do from time to time and at all times hereafter well anil sufficiently savo defend leer larmless and indennified the baul Secretary of State in Council his successois assigns and the Officers 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 suite 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 or whatsoever against or happen or be occasioned to the said Secretary of State in Council his successors or assigns or any of the Oficers Servants or Agents of the Goverument for or on nccount or in respect or by reason of the said Promissory note mo represented to have been as aforesaid on the principal or interest therely secured or any part thereof or note now 1 ·124 APPENDICES. note potcs -Or note hearer beind issued as luy reason or in report nf or consequent upon the issuing of a nnte nar as aforesaid or of any hearer hand which henrer hend barer bonita may hrreafter by substitution sub-division renesal or otherwise represent the said promiery nnte or the ness afore and then the alore written bond shall be roid and of no affect otherwise the same sball be and remain in full force nod vintuc. Signed sealed and delivered by in presence of ncipal ) Titness Occupation and address, Signed sealed and delivered by (Foret suroty) In piesence of Ilitness Occupation and address. Signed sealed and delivered by In presence of (Second burety) IT'itness. Occupation and address. Principal identificd by me Occupation and address. First surely identified by me Occupation and address. Second surety identified by me Occupation and address, ·125 APPENDICES. Bond esplained to abore prin. cipal and suretics by me Occupation and address. THE SCHEDULE REFERRED TO IN THE FOREGOING BOND. FORN VI. (Scc rule 15 ) Know all men by these presents that we (Principal and. Bureties with are held and founly bound unto the Societary of State for Indin in address of Council in the sum of Rupees of lawful money of British India to be paid to the said Secretary of State in Council lis certain attorney successors or assigur foi which payment well and truly to be made te bind ourselves our heirs esecutors administrators representatires and assigns jointly and every two of us bind ourselves our licirs executors administratora representatives and assigns jointly and rach of us binds himself his heirs executors administrators representatives and assigns fererally firmly by these presents sealed with ou respective seals dated this in the Christian year One thousand Principal nune hundred and And each of us the said and 2 mureties.) day of . doth herchy for himself liis heirs caccutors administrators te. presentatives and a-signs covenant rith the said Secretary of State in Council his successors and assigns that if any suit shall be brought touching the subject-matter of this obligation or the condition hcreuuiler written in any Couit subject to the superintendence of the lligh Court of Judicature at l'ort William in Bengal other than the said High Court in its Ordinary Original Civil Jurisdiction the name inay at the instance of the said Secretary of State in Council 12 ·126 APPENDICES. (Principal.) lie removed into tried and determined by the snil Thigh Court in its Extraordinary Original Cıvıl Jurisdiction. Whereas the above boundlen lia 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 (iovernment of India the number nmount and other particulars of wuch are set forth in the schedule hereto and that the said Government promissory note some time since (Principal.) And whereas 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 sr, 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 (Puincipal) preceding the date fixed for the issue to the said of a duplakate of such note and the said Controller of the Currency for and on behalf of the said Secretary of State in (Principal). Council hay on the aforesaid representation of the sail acceded to the said application for payment of interest as afores ud on condition of the said (Principal.) and two suflicient sureties executiug such bond ag above written and the said have accordingly 19 Suretics such sureties agreed to execute the said bond with such condition as hereunder is written And whereas on the further application of (Principal) the sand tho saill Controller of the Currency has ordered that the said note so alleged to have been as aforesaid shall be included in the next lalf-yearly list published pursuant to Rule 16 made by the Government of India under Section 24 of the Indian Securities Act 1920 of sccurities lost or destroyed in respect of which an order bag been runde for payment of interest pending the issue of such duplicate security as next hereinaftei inentioned and that six years after the publication of the list in which the said note je first mentioned if no reason to the contrary appear a sluplicate of the anill note (Principal) shall be issued to the said ·127 APPENDICES. Now the condition of the above written bond is such that if the above bounden (Principal and 2 suretres.) then heirs (secuturs adminstrators representatives and assigns do and shall from time to time it and when the said note so alleged to have been as aforesaid shall happen to be found os come to their or any or either of their possession or power or to the possession or poter of any other person in trust for them 01 all of them mmediately deliver or cause to be delivered the samo to the said Controller of the Currency for the time being or the person for the time being csercising lus functions on behalı of the said Secretary of Statr. in Council in order that a memorandum of all payments of interest which may have been made as aforesaid may be duly indorsed thereon. And further in case the origin of the said note shall have alreads (owe or shall hereafter conne to the hands of any purson or body corporate whomsoever under such circumstances ay may entitle the holder thereof to demand payment of the interest thereof froin the said Secretary of State in Council Lis successor or assigns or in case any interest in respect thereof shall at any time liereafter have to be paid or satisfied or received or taken in payment by the said Secretary of State in Council his suc: cessors or assigns or any oflicer or person on this behalf then and in cithcı of such cases of the said their (Principal heirs executors administrators representatives and assigns shall and and 2 suretics. do from time to time repay to the said Secretary of State in Council his succes9018 or assigas the amount of all interest which shall Lercafter 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 becu 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 Government by reason of or consequent apun the said Controller of the Currency continuing to pay interest upon the said note to the said as aforesaid (Principal) And further if the said (Irincipal DU? tureticu) their liciis accuturs admiuistrators representatives and assigas shall ·128 APPENDICES. and ilo from time to time and at all times hereafter well and sufficieutly save defend keep barmless and indemnified the said Secretary of State in Council his successors and assigns and the Oficer Servants or agents of the Government and each and every ut them of froin 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 lieieafter be brought coulenced or sued by any person or body corporate rhomsoever and shatsoever against or happen or be occasioned to the said Secretary of State in Council his successors or asgigos 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 iepresented to have been as aforesaid or the interest therehy secured or any part thereof or by reason or in respect of or l'onsequent upon the sand Controller of the Currency continuing to pay interest to (Principal.) the said upon the said note ag aforesaid then the above witten bond shall be void and of no effect otherwise the same shall be and remain in full force and vale, Principal.) Signeel realel unil delivereil by In presence of Witness. Occupation and address. (lut surety.) Sigued sealed and delivered by In presture of Vitness, ( oil surely. Occupation and address. Sigued wealul and delivered by in presence of

·120
APPENDICES.
Witness,
Occupation and address.
Principal identified by me
Occupation and address,
First surety identified by me
Occupatwn and address.
Second surety identified by me
Occupation and address.
Bond explained to the above prin.
cipal and sureties by me
Occupation and address.
THE SCHEDULE REFERRED TO IN THE FOREGOJNE
BOND.
FORD VII.
[Sce rule 17 (a).].
Form of Indorsoment for renowal of a Promissory
Note.
Received in lieu liereof a renewed note payable to (name of
holder), with interest payable at
Treasury
holder
Signature of the
duly authorised represente
atire of name of holder).

·130 APPENDICES. I'ORN VII (4). [Sec rule 17 (2).] Form of Indorsoment of the ronewal of a Troasury Bill. Moreired in licu hereof a renewed Treasury Bill payable to holder Signature of the duly authorised representative of the holdci TORJI VIII. [Sec rule 17 («) 1 Form of Indorsement for sub-division of a Promissory Noto. Received in licu lereof notes for Rs. lespectively, payable to (name of holder), with interest payable at Treasury. holder Signature of the duly authorised representa ative of (name of holder). FOR IX. [See rule 17 (a).] Form of Indorsemont for consolidation of Promissory Notos. Meceived in lieu liercof n nen note paralle to (name of holler) for Itu. Ly consolidation with promissory note or notes Yos. (mentioning the slumbers and amounts of the other ·131 APPENDICES. notes desired to be consolidated acith it and specifying the loan) with interest payable at Treasury. holder Signature of the duly authorised representatire of (name of holder). FORM X. [See rule 17 (c).] Form of Indorsement for conversion of Promissory Notes into Bearer Bonds. 2 Received in licu hercof and of notes numbers in the loan of of the value of Rs. bearer bond (or bonds) of Rs. each amounting to Rs. with interest payable at Treasury. holder Signature of the duly authorised represcutative of (name of holder). FORM XI, (See rule 34). Know all men by these mesents that we The oblig And by turoties the purtat ore held and firmly bound to TILE IMPERIAL BANK OF INDIA, PODLIC Drut Orrier, CALCUTTA, in the sum of Rupees of lawful money current at Calcutta, to be paid to the said INTERJAL BANK OF INDIA, PUBLIC DEBT OFFICE, CALCUTTA, or to the said Bank's contain attornoys successors or assigns for which payment to be well ·132 APPENDICES. and truly made me 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 1 day of day of Whereas a certain promis-ory note or securit of the Government of India, No. of the per cent. Loan of for Rs. dated the were drawn for and on behalf of the then Secretary of State in Council for India by the order and under the authouty of the then Governor-General of India in Council in favour of one 1 Here recite facts and defecte in endorsements. join with And whereas the said has applied to the said IXTERIAL 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 writteu 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 suneties for and to in executing the above written bond or obligation. Now the condition of the above written bond or obligation is such that if the above bounden and each of them their aud each of their Executurs 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 IXDI., PunLIC DENT OFFICE, CALCUTTA, and their lands tenements goods chattels and effects of from and against the issue of the renowed note or securit in lieu aud in place of the said promissory note or securit of the Governtuent of India, No. of the per cent, loan of for Rupees Jated the day of ·133 APPENDICES. 1 1 and standing in the name of aud also from the payment of all interest which has accrued due there. on 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 I UITERIAL BAXK OF INDIA, Public DEBT OFFICE, ('ALCUTTA, by any person or persons whowsoever 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 non due and from time to time hereafter accruing due thereon respectively and of from and against all loss costs charges and expenses whatsoever which the Secretary of State and the said ÍMPERIAL BANK OF INDIA, PUBLIC DEJT UFFICE, CALCUTTA, shall sustain, incur, or be put to by reason or for or on account or under colour of the renewal of such promissory note or securit or for or on account or under colour of the non-payment 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 void and of no effect but otherwise the same shall reinaiu an full force and virtue. Signed, Sealed and delivered. TORM XII. (Sre rule 38). Form of Special Notes issuod to Rulers of Statos in India. Government loan of Rs. per cent. (if (name of loan) Public Debt Office, per cent. The Governor General of India in Council hereby promises on behal/ of the Secretary of State for India in Council to pay To llic lighness the Raja of or his succexor the Raja of for the time being at the General ·134 APPENDICES. Treasury at Fort William on (lere state the date of discharge of the loan) Rupees and to pay to the said Raja and His Successors Rajas of for the time being at the General Treasury above mentioned interest on such sum from the to the date on which the same shall beconie payable as aforesaid at the rate of per cent, per annum such interest to be paid by equal half-yearly payments on the and on the in crery year. Provided always that tho said principal suin of Rupees or any part thereof and the right to receive the same and the interest thereon as aforesaid may at any time be transferred absolutely by the Raja for the time being entitled to receive the interest thereon and the Governor General of India in Council hereliy agrees on surrender of this special note to issue to the said Raja or any of His Successors Raja of for the time being and holder of the note, promissory Notes of the per cent, Loan of in the usual form for the wholo 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 Raja a special note in this form for any balance thereof uot 1cpresented by the botes so issued. Rs. dated the No. 19 Superintendent, (Public Debt Offico), Controller of the Currency, for Superintendent. dny of Secretary to the Government of Indio. FORU XIIL [See rule 41.) Form of Indomnity Bond. know all men by these presents that we held and truly bound unto the Secretary of State for India io 210 ·135 APPENDICES. bind tosselt WO Council in the sum of Rupees of lawful money *Double theo of British India to be paid to the said Secretary of State in Council amount of th bis certain attorney successors or assigns for which payment well Interest paid 1 thereon 8inco and truly to be made my heirs executors adminis- the respective ourselves oor dates of trators and representatire (jointly and erery two of us bind our. 1990e. selres our beurs esce utors administrators and representatives jointly [To be and each of us binds himself herself his and her heirs executors omitted if bond taken administrators and representatives sererally) firmly by these pre- from one person only.] sents sealed with Our respective seal(s) Dated this in the Christian year one thousand nine hundred and and cach of us the said my dny of I do dota hereby for ру bia and her myself himself herself and heirs executors adminstrators and representatives covenant with the said Secretary of State in Council his successors and assigns that if any suit shall lje brought touching the subject matter of this obligation or the condition hereunder mutten in any Court subject to the superintendence of the lIigh Court of judicature at Fort William in Bengal other than the said Thigh Court in its Ordinary Original Civil Jurisdiction the same may at the instance of the said Secretary of State in Council be removed into tried and determined by the said IIigli Court in its Extraordinary Original Civil Jurisdiction. Whereas the above bounden claims to be entitleil Itero stato in what capacity claim to the potesis ado to tlie several Government promissory notes specified and set fortlı Set out in the schedule hereunder written and lias caused to be represented representa to the said Secretary of State in Council that the said Government concerning the boter promissory notes lave been And whereas the said Lau applied to the sail Secretary of State in Council for an ins. basc portion of the sail notes and also for all other information and particulars respecting the sand notes and whereas the Controller ·130 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 entering into and executing such bond as ahove tritten with such condition as hereundor 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-clivision 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 undemnified the said Secretary of State in Council his successors in oflice or assigns or any agents employed by or officer or serrant 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 particulais 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, scaled and delivered by lu presence of Witness O cupation and address- TIC SCHEDULE RCIERRED TO IX TIC FOREGOIYG BOXD.

·137 APPENDICES. 11 9 APPENDIX III. 1. In the case of the publu olhers named below a Government security may be made mi endorsed payable to, or to the order of, the holder for the time being of the office, by the name of the Office:- Office of Auditor General. Accountants Gencral. Comptrollers Controllers of Molitary Acrounts. Military Accountant General. Isamjuers of Accounts. Examiner of Military Works Accounts. Accountant General, Postal and Telegraph Accounts Serietaris to the Government of India. Secretaries to Local Governments and Adminis. trations, Chief Auditor of State Nailways. Consulting Engineer for Railways (Dadras). Superintending Engineers. Executive Engineers. Jasters of the Blint. Director General of Posts and Telegraphs. Post Blasters General. Deputy Post Masters General. Administrativo Medical Officer, North-West Frontier Piorince. Chief Account Oficer, Salt and Customs, Bombay. Administrator General, Bengal Administrator General, Madras. Administrator General, Bombay. Administrator General, l'unjalı, North-West I'rontier l'rovince and Dolli, Oflicial Issignees, Bombay, Beugal, Madras and Rangoon. Oficial Trustees, Bombay, Bengal and Jadras. Secretaries to Boards of Revenue. Commissioners. Collectors, Vagistrates, Judges, 3 >> 12 1 ) 11 . ++ + ·138 APPENDICES. 19 ) 3) 91 در 11 Office of Deputy Commissioners. Treasury Officers. Registrars of High Courts. Registrar, Chief Court, Lorer 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 Forests and District or Divisional Forest Officers Political Residents. Political Agents. District Officer, Frontier Constabulary, Peshawar, Presiding Officers of Courts and Officers empowered by the Code of Criminal Procedure to require the execution of bonds. Registrars of all Presidency Small Cause Courts. Managers of State Railways, Commanding Officers of Regiments. Assistant Commissioners of Salt and Abkari Revenue, Madras, Consulting Architect to Government (facras). Collector of Customs, Calcutta. Sheuff of Bombay. Divisional Disbursing Officers (Military Accounts). l'rothonotary, Testamentary and Admiralty Registrar, High Court, Bombay. the Clerk of the Crown, High Court, Bombny. the Court of Wards in Sind. Officers Commanding Stations, Secretary, Railway Board, General Officers Commanding Divisions anil Brigades. Sherilt of Calrutta. Commissioner of Customs, Salt and Excise, Boubay, Registrar, Judicial Commissioner's Court, Central Provinces. 19 9) 3) 13 19 ·190 APPENDICES. riffire of Controller of the Currency. Deputr Controllers of the Currency. Assistant Controller of the Currency, In pretor Geneal, Railway Mail Service and Sorting Registrar and Official Receiver of the Court of the Judicial Commissioner of Sind. Municipal Commissioner for the City of Bombay. Commissioner, High Court, Bombay. Archieacon of Lucknow Archdeacon of Lahore Wasiga Officer, Luckno. 2 In the case of the officers of Indian States and of the Ceylon Government named belor Government sprurities may be made, or endursed payable to, or to the order of, the linlder for the time being of the office, by name of the office. 19 31 Officers of Indian States. 1. Accountant General, Nalha State. 2. Accountant General, Bikaner State. 3 Acrountant General, Baroda State. 4 Accountant General, Kashmir State. 5 Accountant General, Cutch Durbai, 6. Educational Inspector, Cutch Durbar. 7. Sadrul Unhain of Revenue, Hyderabarl State. 8. Assistant Ministri, Finance, JIyilerabad State. 9. Revenue Secretary, lIyderabad State. 10. Excise Commissioner, Hyderabad State. 11. Chief Minister to 11. II. the Maharaja of Holkar. 12. Dewan of Mysore State. 13. Dewan of Cochin State, 14. Dewan of Travancore State. 15. Finance Meniler, Gwalior State, 16. Karbhari of the Kurundvad (Seninr) State. 17. Kishengarh Durbar, 18, Political and Julirial Secretary, Palanpur State 19. Revenue Minister, Bloral State. 20. Superintendent, Dhar State. 21. Superintendent, Jill States, Siinla. 22. Wazir, Khairpui Slate, h

·140
APPENDICES.
Officers of the Ceylon Government.
1. His Excellency the Governor of Ceylon,
2. Tbe Colonial Secretary.
? Treasurer of Ceylon.
4. Post Master General of Ceylon.
5. The Inspector General of Police, Ceylon.
6 The Commissioners of Currency.
7 The Controller of Revenue.
8. The Commissioners of the Loan Boari.

·141 FORMS. SCHEDULE OF FOR318. No Description of Forms Paragraphs in the Manual containing reference to Forms Page of Manual. - 14 (6), 15 (c), 18 143-144 1 1 Application for conversion of securities and Acknowlodgment of receipt of securities tendered for conversion 2 Rexister of securities eadered for renewal, consolidation or sub-division 116 15 (c), 50, 62 (is) 97 24 (a) 146 3 Register of Interest Warrants 4 Payment order of coupons of bearer bonds at 28 147-148 aub treasury 5 29 149 Renter of bonds registered for payment of coupons at a treasury 29 150 30 (0) 361 6 Register of coupons paid 7 Detailed list of lennds of which the coupons are payable at a treasury. 8 Cancelled. for 9 ) Reguter of promisory notes enfacel payment of interest at & treasury. 33 (a), 38(e) 160 10 Bemorandum of advice of re-enfaced notes 33(e) 153 11 31 161 Detailed list of notes enfaced for payment of interest of a treasury. 12 Cancelled . 155 37 (d) (i), 38(e) 38 (c) 150.157 13 See Form IV in Aprendix II. 14 Register of payment of interest 15 Payment order of interest on promissory notes at & sub treasury 16 Register of Powers of Attorney, Prolates, Certificates, etc 17 Acknowledgment for securities tendered for renewal, consolidation or sub-division 50 159 5G, 02 (1). 97 159 81 1801 18 Covering list to accompany secunties for warded for custody. 19 ) Register of Government securities deposital for safe custody, 85 (a) 161 K2 ·142 FORMS. SCHIEDULE OF FORVIS-contd. No Description of Forms Paragraphs in the Manual containing reference to Formos Page o! Manual. 89 162 91 (6) 163 20 Annual list of promissory notes deposited Ag security 21 Application for safe custody of Government promissory notes 22 Acknowledgment of receipt of Government promissory notes received for safe custody at the treasury 23 Ledger Account of Government promissory notes 91 (c) 16 91 (e) 100 21 Application for withdrawal of Gororament promissory notes held in safe custody 92 (a) 160 23 Register of receipts and disposal of notes held In ante custods. 92 (6) 107 Interest Distribution Register 10 93 (c) 03 (1) 27 Adrice list of promisury notes went for 109 renewal 33 Coroning list of promiswry notes returned by post Note I to mm. 92 170 ·Form 1. stock cerificata briret bond Form of application for corrersion of Lease bonds ento promittory notes pomiros notes stock crot firelos stock certficates Other bunds We or I bechy reqnest that the andermentioned bester honiis may be converted into promissory notes of this ey! 11:19 notril promullseity notes stork crtificates below with interest rasshle at the treasury Date- Sintrare nf ha tn- Address PARTIOTI AR OF SECURITIPS RTXIRD IS FEIAVO PARTICOLARI OY STOCK CERTIYICITES BEALER NOTS TEYDERED TOR ProX ISSORY VOTES CO TERBIOY. (5) Interest dae tinder paragraph 20 (7) learer hondo 18 Prory tort 1 Stick certificates TORNIS (3) Value of mcurity. Date of last half. yearly interest fray neut or in the case of benter hond cate up to muli coupons have been paul Yomber of noch certificate bexrer . promenity to Valne מרגיע Lint. Vilne Value 1.orn Rs. A.P. Rs. 19. TOTAL TOTAL TOTAL TOTAL JOTE---Scute out and certifirates, bearer bonds or promisory antes, in the abovo form is the case way be. For instance for the convers'on ut promisnoty Tv In inton k certificate, columns 7 and 8 in the above table are not requuel and may be scored out Sulut of 300465 bould be specifically mentioned. No. dato . Calcatta Lovpaariled to lie secretary and Irebburer, Imperial Bank of India, Pablic Debt Office, Bombay, for necessary action (Signatare.) Tressors Coordz Treasury Officer, Reference No. Date. Nguber of pineti rebiral of the Telde of Re. ind respectuely. Amogot of fees realized for conversion Rapecs and cruin in anh turont of Treasury Oficor. Vedrus ADAS 143 ·Form 1-couckt 144 TPDLRID POR STOCK CIITITICATE PARTICOLARI OY MARXE DONDE PROMISNORT OTZS COXTPRSTOY, I IRTICI'LARS OF SECURI 'IFS REQUIRID IV EXCHANGE. Interest due onder Paragraph 20. Stock certificates, Bearer bond (6) Promissory notes. (1) Date of last hall- Yearly interest Tayment of in the case of bearer bond date op to which Podpora has (3) Xumber of stork certificate Heaterlond DEUTS Date 1.4. (3) Value of security. - Loan. Value Valge Loan Value. Leen paid RS. Rs A. P. RS Rs. FORDIS. TOTAL TOTAL TOTAL TOTAL Received the securities tendered for conversion as specified above. Dare- (signatore ) stock certificates Received the bearer bionds required in proiniasory notes erchange for the secuuities tendered for conversion as specified above. Date of delivery. Signature of the holder. Trensary Treasury Officer.

·Form 2. Tirgister of securities receired at the treasury for reneral, consolidation, sub-i197610n and conını son PARTICOLARS OY SZCURITIT3 RPCBITED. Initin 1 Reference to Date of nuciit Initials the forward.'nce tecnri. of In meme to ties from the TO the VDO. PDO Ron depo! of BEYABR T 0 Date of pilkeuth From whom reecived. For what parrone xtinn Xumber. Per cent Loan Amount FORM. 145

·Form 3.
146
Register of Interest Warrants.
Amount
of encb
warrant
Priatrd
Intiin ber.
To whom payable.
Date of delivery.
Dale of receipt.
Receipt of person
to whom
del.vered
Re.
FORBIS.

·1.17
TORS.
Form 4.
To the retained at the Sub-treaners)
Frn-The Trearuts Oner,
T-Thit Sub-treseurt Officer,
The preront holder of the bearer bobl detaile! belum lus applied for the
Payment of coupons from scar sub-trcanuts.
I'llane verify the particulars sis en belor rith those given on the coupous when
they are presented at you sub-treasars for payment. -
1
Loins to sluch
thi tearer
bond relatey
Amount and Yumber of bearer
bond the compny of which are
pajalle at the sub-treasury.
amount of interest
due on cach
coupon
(2) After retitication of these particulars you should joy the interent dac bot
you should record the paymeat of the interest in the columns va the reverse of this
form.
Treasury Oficer,

·148
FORMS.
Details for the payment of interest.
Interest for the half-year Date of payment of inleiest at
ending
the sub-treasury.
Sub-treasury Officer's
initial

·Serial Xaver.
1
Yo. and date of advice from
Palle Debt Ofice satkotising
Pagunent of coupon.
19
Valae of bond.
es
eo
Wamber of bonil.
Value of each coupon.
5 6
Treasury Officer's initial.
Uall year and dayidend
No. of coupone paid and
date of payment.
Half year and dividend
No. of coupons paid and
date of payment.
Register showing particulars of bonds registered for payment of coupons at the
Form 5
7
PARTICTLAR O corpong TAIP
Ireaturg
initis.
Oreal
Treinry
Loan of
'Stuu
BFT

·Form 6 150 Register of payment of coupons on learer lonils PARTICOLAS OF THE COtros TAID AMOUNT OF COCIOUS PAID. No. ( Amount Yet rayment Il doction of Income 4 % Comer. tal Mos luan of 1916 17 Treasury Oficer's itsalt Duly total of Yet pynents lunce of luud. Talf years Dauden Teptinal. ed lig COD 6. Nos, of coupons 91% of 1856.55. 4% Term nelle loan cf 1915-16. FORMS. • Xojt.-Sub colatus for War Loans, 1!1i al 1918 and subsequent loans should also be opened in the register.

·151
TORUS
Form 7
Detaleil lest of bearer line of ..
per rent. L02 01..
requerel post payment of erpina al llir
treasury on 31st
Dipremljer
Voof nit
Atout
Voo date of als nenutiorizing
nellest of coping
1. FSANKS.
--

·Seral Jonker. Yand date of adnce o enlarenest fruc Podlie Delt Osce. Value of Dute. amber of byte. A wout of hal.gratis soterest. D Date op to which in terest was last paid, Treasury Officer's initiat Holl.cat Bid date of payment. Hall (AT and date of payment. Prender of promissory notes en foreil lor payment of intercal at the Form 9. PARTICOLARS OY PATXENT OF INTEREST. treasury No and date of advice of cancellation from Public Debt Office. ---- per cent loon of Treasury Oficer's iditial. 10 SO 891 ·103 FORMS Form 10 (Obverse) A C lace - Piac Place io Do Date - 192 Data- 192 192 Payment of 15test on e following fiuterninent 1.84 TV notes 10 tly Pulay transferred to Mindray liepiscement on the notes as been altered and advice it to the Secretar: sod reasuror of the Bank an! the Paulic Debt Office, alcutta Interest on the otes les ben pid in this egory ap to Date To The Secretary and Tresorer. Imperial Bink of India, Poblue Drbt Office, Calcutta SIR I love the honour to inform you that on the application of the bolder Thic Spintury 211 Treasurer Imural Runk of India 11.bs Madras SIR, I have the honour to inform yon that on the ApplcAtt of the bolder I have t):19 das transferred to you the Jaynent of the interest on the following (imernment lirim 890r) totes I have sul that interest on these Rutes npt 1999 I have the hocour to fue SIR I nur obedient servant, Trezory Oficer I have this duy transferred to Romley Madras the sayinent of the interest on the following (ov-rn. muut poingsury potes. J have paid the interest op these Drites up to 192 I love the honour to le, SIR. Your bedient sant, PTO Trenry Officer. P.T.O Treasury Ofcer. P.T.O. PARTICULARS OF THE NOTES. .Lour. Form 10 (Reverse). PARTICULARS OF THE NOTES PARTICULARS OF THE NOTES. LOA. LOL. 10. Amonot. No Per cent. Amount. Yo. Amount. Year Per ceot. Teat, Per cent, RS No.

·16-1 FORMS. Form 11. Detailed list of Government promissory notes.ofper rent. loan of standing enfaced at treasury on 31st December No of noto Amount Yo. And date of advice anthoriz. ing payment of interest. IEVARKS TUTALAN ryt ·Form 14, Tiegister of payment of Interest on promissory notes ISTREST PAID CYNT Yo. of voucher. Xame or Tajec Xo of no10 ON KUTEN TITT PET CENT 1.OAN OT Yamber of Amount Date up i halfrears to which for note. ned Date, ne for 11on of Incontro 13t 10 OP Yet im Tulent Tals total nt ant 15 mente Dard, VITI initials 1912-13 1654 85 / 1965. 14.3.192) 287 B, Tis It's Rs. • it TORIS. • Salcoleads for far Lot 1917 and Its Rod absequent loans should stao be opened in the register. 166

·156
FORMS.
Form 15.
To be retained at the Sub-Trensary)
From-The Tienstry Officer,
To-The Sub-Treasury Officer,
The present holder of the Governmeat promissory note detuled below has
applied for the payment of interest on it from your sub-treasury.
Please verify the particulars given belowwith those given in the Government
promissory note when it is presented at your sub-treasury for payment:-
per cent. Loan of
No. of thio
note.
Value of the
nove
Name of the present
holder.
Date ap to whih interest
has been paid.
(2) After Yenifuation of these particulars you shoull
pay the interest
dur, but you should reeurd the payment of the interest in the columny on the reverse
of tl as firun and a'su in the proper cage in the poruniasury noto before paying the
burgey to the bulder of the note.
(3) In the case of any change of ownership by transfer endorseret, the note
Lould le forwarded to the Distrit treasury for josritions.
Treasury Oficer.

·157
FORMS.
Delnsls for the payment of interest.
Interest for the ball-year
ending
Date of payment of interest
at the sub-tratury.
Sub trasury, Oficer's
Inlais,

·Form 16. 108 Reguler of Poxerra-of-://larnev, Prolates, Certificates, ete. farial Ya Date o negirtiy Dite of document. Yme of ripcipal. To whom grated Description. Limitation of power. FONUS, 1. Separate pages should be reserved for separate ir tials, an]the entries under each mutual 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 ordor, may, with adranta, bonoted in the column of “ Date of Docujuent."

·169 TONS. Form 17. Stork certificates Learer tond. TAXIy 30ry nutis Tiercipt. renowal Tacired for innsilidation sub-division PIRTICLLARS OF SECURITIES RECEIVED Frumriturved Xumber Per cert. Loan. Imount. Total I. The Treasury. The 192 Treasury Oficcr. fcknowledgment. Reccivel the scrurities specified Lelow in licu of tlic fecuritic: men. tioned aloic Yumber. Per cent Le). Imount Signature of the holder Date

·Form 18 (Foolscap size).
160
l'osherlarang securitats futroslal fur saft custeily to
PARTICOLAIS OF VOIFS
diatur
und, et u of Irrt
in wine behalf
the instit
Beld.
To wbat late
interest lias been
paid.
REMARKS.
Yun Ler.
Per cont.
Luas of
Amoont
ks.
FORJS.

·Form 19
Register of Gorernment securities depostal for surf cuenta
L'ARTICOLARE OF 0173
Date of
Ferint
Xo
By whom
deres tel
oral dat f
Int. n.
l, 1 :
REVARE
det.
..
Ter cent.
L.can
Amount
FOBUS.
161

·102 Form 20. List of Government promissory notes in the custody of on the 31st December 192. AJOUST OF INTESTUEST.* Serial Xame of person or Fund in whose behalf held. I Name of officer to whom interest is sent. 3 por 3 per 3 pcr cent. of cont of 1812-43. 1834-35. 34 per cent. of 1803. 3 pei | 35 per cent. of cent of cent of 1879. 1900-01 18:16-97. Total FORM8. *Sab-columns for War Loans 1917 and 1918 and sabsequent kans should also be opened in the register.

·163 YORJIS. Form 21. l'urm of supratau fost mufe cheoily of Government promissory notes at alreisery I tha: thurs munthuned fioreninent promissory notes enclosed llenath white bale enfamil fui j'ment of interest at the tressury, may blemi 11.63custinds at that trust and interest llieieja as it falis due way in person be paid to ... b mit order Tle notes have been endorsed lipjeh oder at the sub-treaguri in far out of the Treasury Offices PARTICULARS OF JUTCS PRESETXD FOR SAFE CESTODY. unbes Lun. Amount. Interest paid up to Total Rs Signature of the deposilor or hit duly authorised agent. Dutt 132. address Το The Titasury Officer, N. 1.--Please note that when it is desired to degit notes fur rafe custody for Any lengthy periol, it will be more contenant tu tie boller to convert tfitu into stallertates, as in the 139 of th certificates wannts for 19 Truent of internet are ise without acarale appellation and witlivat prxstation of the certificate, and can be inde payable at any treasury or sub-tressurs. Xo ltc is clarked for coon riun iplo slakarticates of promisnry Col.

·162 Form 20. Lisl ny Gorrnment promissory notes in the custody ofon the 31st December 192 AMOUNT OF INTXSTMENT. Serial Yeme of person or Fond in whose bchall beld. Name of officer to whom Interest is cent. 3 ver 3 per cent. of <ant of 1812-43. 1834-35. 3) per 3} per 3 per 3 per cent. of cent. of cent of Cerit of 1865, 1879. 1900-01 1896-97. Total. FORMS. *Sub-columns for War Loans 1917 and 1918 and subsequent kans should also bo opened in the register.

·No text on this page.

·166 FORS. Form 24. Form of applacation for rithelrural of Corcranoul promessory notes siifcieusturly, I request that the undertentioned Government proinicecry notra lied in ſo custody at the- Traasury on ms helalf may be returned to direct -duly endorsed in my farour. I emlose her with the orginal racuit by post No. datel -granted by the Treasury Older. Die PIRTICCLARS OF A OTF: TO BE RETOR, E1). Number Luar. Amount Interest paid up to. Rs Total. Signature of the Depositor. Dale dildress To THE TREASURY OFFICER, ·Data (axe 1 Ximo of Jepositor. Saml.ct. Per cunt. LOLY. TCAT. Amount. JARTICULARS OF XOTES RECEIVE?), Interest poid ap to 8 Initials of the T. 0. 9 Icference to liger 10 Date of return, 11 Initials of the TO 19 Date. Register of receipts anil disposals of notes held in tafe custody. Form 25. Case Yo, $ To w bot returba 3 Xumber, * Per cent | lain, Year. Awount. L'ARTICULARS OF SOTIS FIRST), Interest paid up to o initials of the T, O Rutace o lulzit. Relere te t *** Duwleuzwent recept. 'S}{U0.1 167

·No text on this page.

·Form 25.
Reynslır of wrinder und despite of noirs hello» soforretnily
l'ulti !!' \011-K11111!??
I'ARTICUS ' X011: Kir'?\ }'l,
I
.
1.0
Vanaf 16
lot rust pas 715
Isit.a's of the T.O.
Ecertteet).get
Die el retor..
also..T.O
Dela
(ive S
Worlu,
Sinul
Terazt
ALL.
Teu.
LOL

·Form 26 168 Interest Intribution Register. Same Total Adidunt of antenat tralind on the notes in the Jord of ... I!eference to Ledger ibstract, Yomber of the note. Awoont. of depos tor. Total & nouant Amount of half-yearly interest. Rate of Amount of income Income tax. tas Date of Not Amogut layable payment Intials of T. 0. 1 2 3 4 5 6 7 8 3 10 11 12 TORBIS.

·169 TORIS, Form 27 Troy TT TITA 11:11 ICEL tressary. Darr TO Till Ft 1:1 TARY AND TIT:ALIR IMPERIAL BANK OF INDIA, PUBLIC DENT OFFICE, CALCUTTA SIE, I live the lionour to forward hcrewith for renewal the undernoted Government promissory notes, I have the lionour to be, Sir, Your most obedient Servant, Treasury Oficer. MCMO. XoTFS LEQUIRED. No Loan Amount Holder's Name. How many For R cach. Coupov. Date Reference No. No. 9 Loan 2 Amount Rupees an13 Crealitat in cash account of Treurry Onicer.

·170 TORDES. 1 Case No. Form 28. G. l'. Notes returneil from safe custoily. No. treasury. Application receiver Xo. , dated the 192 From 4batract of Moter returned the details of tries are giren orerleaj. No of рессе Government promisory Boter of the 3} per cont. Loang of the aggregate Dominal talas of R . 1 1 6 2 Totals Total (in worila) Rapecs Register of receipt entry So. dated the 192 10 note Received fr nn the Treasury ofcer the Government joronidory which had been deposited wat hun for safe custody. as specified below returned with bis No. dated the of 192 Govorimont promissory notes at the s}"por cept, Lcan3 of the 19?recata nominyl ratas ofte No of piccos, 3 N 20 Total Totil (in words) Rujiets Signature of the deporitor Dale REVERSF. l'articulars of votes roferrel to orerleaf. Yuminat No. of Yotes. Rate it cent, Loan of Carrying in terest from Eudored in fayor of yal ue.

·Mo 11 Form 29. Form of certificate showing the amount of interest at the mnxiinum rate deducted from the interest realised on Bearer Bonds. pridend Yn of crunn- (Pide paragraph 7 of the firrorroep scarito Mangali Certified that Rę being income-tar at the rate of pies per Rupee bas been deducted from the interest coupons fo: Ra presented for of the lement being the amount of interest on Harper Bonels for Rs. To be signed by claimant. I hereby declare that the Government Promissory Notes on thich interest as abore specificd has been received are my own prosets and arc in the posssssion of Signature. Date (XB-The securities to be prolured when required an opport of any claim) (1 st l'et of currcctions. Cated th. 31:41. Juce 1922) No. 12 Form 30. Form of certificate showing the amount of income-tar at the maximum rate deducted from the interest rcalised on Promissory Notes, Yu of Icelt for terest-ride farve (Tbis uomber slould als. appoir in the Frapl 37(1) of the Gurernient Securities interest cages on the back of the Suca ittes! Mangal) Certified that Re being income-tar at the rate of per Rupee has been deducted in the interest receipt of this datc from Rs. Teing the amount of interet on Government Piomissory Notes for RF. of thie loan of standing in the rame of TREASURY, Treasury Oficer. The 19: To le signed ly claimunt. I hereby declare that the Gorernment Promi-sorr Notes on whioli interest as aborc specified lias been recrired are my otrn property and are in the possession of Signature. Dale (4.B – The des oril is to be preluco! who marnlit sepatufes clase! (1st Intel correctits detalle 50b fare 197 SGPI-9:-VIII-1-3-: } ·172 INDEX. Paragraph. Pago. 1 Boarer bondscontd. Custodynot to be recouved in - by Government Offirera 77 CO Definition ol 3 Denominations in which issued 97 84 3 Description and obaracteristics of - Duplicate -, 19300 of in case of loss. 09 81 Endorsements on will be not rocognised 3 () 5 11 11 Exchange Dot 19suel in - for stock certificates or promissory notos when holders' powers are limitel Loss of - procedure for obtaising duplicates Registration of —, coupons of which aro pagable at treasarieg 99 84 29, 30 25, 23 Renewal of 56 BS Repayment of principal of - 69 Transler to London 100 85 Transfer of ownership oflected by more handing over 3 (ii) 5 Blank endorsaments- Promissory notes borring - not to be received 41 39 Bodies Corporate Eadorsoment to or by -. 45 (2) 44 Book Debt- Same thing as Stock, See uoler stock certiboatos 2 3 0 Cash Certincate. 6 7 ·178 INDEX Paragraph Page. Certincate of Guardianship, when necessary. 36 noto (Y) (3). 47 32,10 48 47 Registrat100 at treasury Hagutrate or District Magistrate as to guardianship of minors or lunatica 30 noto (v) 75 32, 67 67, 67 CO, 75 49 (3), 51 48,60 Duernet Magutrale 2 to bership Marriage when necessary Stock -, see thereunder, Succession - when necessary. Suocession, registration at treasury. Succelsion — muat specify the secunties to which they relato 47, 00 46, 83 48 47 50 (4) 40 Charitable Endowments- Sue under "Commission." Commission- 87 73 Payment of - on sale of promissory notes held in custody or on parchase trom funda held in trust Not chargous Case of (i) lavestment through the Poot Olice (6) Inreatment on Leball of Charitablo Endowments. 87 noto (6) 70 ibid Consolidation of securita. 83 Contron ol 20 13 Adjustment of interest in canol, ben pecessary) .) Roarer bonde into stock certificates or promissory poler 11 10 15 Poes for ·174 INDEX. Paragraph Pago (Conversion o1-contd. Promissory notes into stock certificates or bearer bonds 13 12 9 10 Securities from ono forn to another, how effected. Securities of one loan into another form of security of a different loan. 10 10 Treasury procedure for dealing with application lor. 14 to 18 12-14 Stook cortificates into boarer bonds or promissory notes 11 21 Counterpart Notes- 63 (1) 61 Coupons- Payment of interest - Bee under “Bearer bonds." Oustody of promissory notes at treasuries- 01 78 93, 94 80, 81 Interest on notos so hell, realisation and payment of Treasury procedure for dealing with applications for --. When permissible. Withdrawal of promissory notes to beld 91 78 02 70 D Decree of a court Transler of ownership by - 47 Dectand holders 8 poolal procaluro la cortain casco 60, 78,00 57, 67, 83 Document Production of in rapport of claim to dispose of pro- i 36 (3). 47, 31, 46, 47 mlusory notea by persone other han last endorseo 49. Production of - la proof of death of joint-holder relating to corporato bolo, sad to marriago. 10 48 Trouwry procedure in registering - 60 48 ·178 INDEX. ParsgrupЕ. Page Duplicato- Tegno of — eccorities to replace those which have been lost. 99 81 Endorsement of promissory notes- Administrators, - to or by 43 42 Alternativo -. 41, 42 (3) 39, 41 Banks, - to or by 45 (1) 43 38 45 (9) 39 37 Blank - no$ to bo tecelred Bodies corporate, - to or by Change of ownership can only be effooted by Documents Docessary to validato -- in certain casco Exocutors, -- to or by Firms,- by mercantilo Government Oficers, to or by 47 49 40,49 43 42 43 43 40 45 Guardians, -- to or by - by TUiterate persons 61 . Jouat 41, 42 (2) 39, 40 47 46 39 37 43, 45 (3) 35, 40 Judicial Oficers by pursuant to s docies Must be written in proper place. Ofco-bolders, - to or by Scrutiny of necessity for Signatures al #hocan alga Simplo Trustoas to or by, how to be treated 1 Vaud forms of - (2 to 45 35-43 41, 02 (1) 41 to 45 3 .

·178 INDRA. Paragraph. Page Endorsement of promissory notes-contd. Vornacular - must be transliteratel 39 Women, verification of -by-. 51 50 Wording of — 38 Enlaced Notes- Annual return of to tbe Publio Debt Office 34 20 Enlacement 32 27 of promissory notes for payment of interest Treasury procedure for recording - Executor- 33, 34 28, 29 - beloto endorsement Dooumonts to be produced by can be recognised. 47 (2) 40 F Fees (lor Consolidation of securities. 07 83 Conversion of securitios 19 16 Renewal of promissory notes 63 61 Sub division of socurities 07 83 Fimmi- Endorsements by mercantile. 43 G Government officers Eadorsements to or by see also ondes Securities hell by Government Oficers" 43 Guardians Endorsement to or by. 40 45 Interest, payment of, to - 38 soto (v) ·177 INDEX Paragraph. Page. Guardians-ontd. 76 07 Principal, payment of, for, Production of Guardianship Certificate by 47 (3) 47 8 Heir - Documents to be producod by - before be can dispose of notes 40 I initerato persons, endorsoment by 62, 76 51, G8 laterett- Adjustment of - decurities in certain cases of conversion of 001 15 Payment of-sce ander" Bearer bonds," "Promissory notee" and " Stock certificates." Payment of -- On Bocurities held by Government officers 82 72 Joint endorsements- 41, 12 (2) 38,40 Joint holder- Proot of death of . 42 (2) 10 L London Transfer of socuritics to. 100 $ Lon of tecurities- Procodare lor obtaining duplicates Lunatic 93 81 Special procedure fos 36 pote () 15 3., 67 ·178 INDEX. Paragraph. Page. M Married Women- When endorsements by tificate of marriage - should bo supported by cer- 51 60 Minors-ges under "Guardians." N Notes See under "Promissory notes." 0 Office-holders- Endorsementa by - 43, 45 (3) 42, 44 Registration a9 stock-bolders 43 noto 43 P 3, 4 4,6 Promissory notes-- Compared with stock certificates and bearer bonds Conversion into stock certificates or bearer bonda Description of 13 12 2 3 Endorsements on - see under "Endorsements on promissory notes." Feea for consolidation, conversion, renewal and sub division of - Well by Goverament oficers, se ander " Securitics heli by Government oficers." 10, 63, 07 18, BI, 87 Loss of - prosalaro to obtain duplicate 90 8 ·179 INDEX Paragraph. Page. . Promissory notes-contd. Payment of interest on At Treasuries, Tre Officer's responsibilities At Treasuries, conditions for 35 30 30 30 At Treascries, treasury procedure 37 33 At Sub.treasuries 38 34 82 Held by Government officers Held in cafe-custody at treasurieg 03 80 Place of 31, 32 27 Under renewal. CG 62 71-74 65-C6 Repayment of principal ot. Transfer from one loan to another 21, 22 18-19 Transfer to London. 100 85 39 37 Transferable only by endorsement Safe-custody at treasurien . Proof of deatb of joint holder 01 to 04 78-81 42 (2) 40 R 29, 30 25,26 16 "Registration (of) Bearer bonds at treguties. Documents is support of claim to dispose of promis. sory notes in certain CA.SP3 Other documents relating to promissory Aotos Treasury procedure for registering documento Renewal (01) 49 $ 50 43 Bearer bonds 60 Promissory notes 37, 69 31,35 ·180 INDEX. Paragraph. Page. Renewal (of)-contd. Importance of - 59 53, 61 When pecessary 59 58 By heirs of deceased holders 60 57 Treasury procedure for - 62 50 Fees for -- 63 61 Stock certificates not necessary 55 54 Repayment of Terminable Loans-- Bearer bonds 69 64 Fromissory notes 71-74 65-66 75 () 67 Securities held by deceased persong Securities held by illiterate persons Securit105 held by minors and lunatics 78 68 75 (a) 67 Stock certificates 70 61 Rupee Loans- List of current - 6 8 Repayment of 67-76 63-69 S Sale Custody- See under " Custody" Securities 97 83 Coasoldation or sub-dission of Issue of dupleates for - lost 99 84 Secuntes held by Government officers Accuugis teariling 83 70 Bearer ton is not to be so held 09 ·181 INDEX. l'aragraph Fage. 87 75 Securities held by Government officers-coatd Commission, when payable. Municipal and Port Trust debentures so beld Investments by Public Officers 89 76 90 76 Payment of interest on - 82 72 86 74 Sale of - Scrutiny of endorsements before accepting promissory notes 79 70 When notes must be endorsed ta favour of a Government ofhcer. 80, 83 70, 73 -need not be 84 Special Notes- For Indian States 63 (2) 52 Stock Certificates- 3 4 4 Advantages of - Compared with promissory notes and bearer Londo Conversion into bearer bonds or promissory notes . Description of - 11 11 3 Interest on 23, 24 21,?? Loss of — 99 si Renewal of not necessary 81 20 Ct Repayment of principal of . Registration of heirs of decessad holders Registration of oflice bolders ++) 63 43 note 13 Salo or transfer of . 13 1 Transfer to London. 100 Trustees, registration of 46 Date ·180 INDE.S. Paragraph. Page. Renewal (of-conte Importanre of - 89 55,61 When necessary 39 56 Hy heirs of dece1xl bolders CO 57 02 Treasury proceluro for — Fecs for - 63 61 Stoch certificates got necessary 65 56 Repayment of Terminable Loans- Bearer bonds 60 6-4 Promisory cotes 71-74 65-66 Securities held by deceased persons 75 (6) 67 Securities held by alliterate persons 76 68 Securities held by minors and lunatics 75 (c) 67 Stock certificates 70 64 Rupee Loans- List of current - 6 8 62-68 Repayment of 67-76 63.68 S Sate Custody, See unler " Custody." Securities - 97 83 Consolidation or sub-division of - Issuo of duplicates for — lost 99 8+ fecunties held by Government officers- Accounts regarding 88 76 Bearer bonils not to be so hold 69

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