(1) The prescribed authority may, subject to such conditions as may be prescribed, on the application of a person claiming to be entitled to a Government security, on being satisfied of the justice of the claim and on delivery of the security receipted in the prescribed manner and on payment of the prescribed fee, issue in the name of the applicant a converted security in place of such security or consolidated security or securities in place of securities of lower amounts or securities of lesser amount in place of a security of a larger amount.
(2) The securities issued under sub-section (1) may be in respect of one loan or different loans.
(2) The securities issued under sub-section (1) may be in respect of one loan or different loans.
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More sections of this act
Section 1 · Short title, commencement and extent.Section 2 · Definition of Government securities.Section 3 · Notice of trust not receivable.Section 4 · Rights of survivors of joint payees.Section 5 · Prohibition to make endorsement except on Government promissory note.Section 6 · Transfer of Government securities to any person in his ex-officio capacity.Section 7 · Endorser of Government security not liable for amount thereof.Section 8 · Signature or impression of signature on Government securities.India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.