Clause 120 - Establishment and incorporation of Public Debt Management Agency - Finance Bill, 2015

PART II ESTABLISHMENT OF PUBLIC DEBT MANAGEMENT AGENCY Establishment and incorporation of Public Debt Management Agency. 120. (1) With effect from such date as the Central Government may, by notification, appoint, there shall be established for the purposes of this Chapter, a body to be called the Public Debt Management Agency. (2) The Agency shall be a body corporate by the name aforesaid, having perpetual succession and a common seal, with power, subject to the provisions of this Chapter, to acquire, hold and dispose of property, both movable and immovable, and to contract, and shall, by the said name, sue or be sued. (3) The head office of the Agency shall be at such place as the Central Government may, by notification, specify. (4) The Agency may, by notification, establish its offices or branches at any other place in or outside India.