Abstract - PUBLIC DEBT ACT, 1944 - Income-tax Act, 1961

SECTION 2(2) OF PUBLIC DEBT ACT, 1944 Definitions. 2. In this Act, unless there is anything repugnant in the subject or context,- ** ** ** (2) Government security means- (a) A security, created and issued, by the Government for the purpose of raising a public loan, and having one of the following forms, namely:- (i) stock transferable by registration in the books of the Bank; or (ii) a promissory note payable to order; or (iii) a bearer bond payable to bearer; or (iv) a form prescribed in this behalf; (b) Any other security created and issued by the Government in such form and for such of the purposes of this Act as may be prescribed; ** ** **