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TMI BlogNSC(VIII Issue) (Second Amendment Rules, 2011 - Amendment in rules 15 and 16 With effect from 1st December 2011X X X X Extracts X X X X X X X X Extracts X X X X ..... powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (VIII Issue) Rules, 1989, namely:- 1. (1) These rules; may be called the National Savings Certificates (VIII Issue) Second Amendment Rules, 2011. (2) They shall come into force on the 1st day ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d shall be Rs 150.90 for denomination of Rs. 100 and at proportionate rate for any other denomination. The interest as specified in the Table below shall accrue to the holder or holders of the certificate at the end of each year and the interest so accrued at the end of each year up to the end of the fourth year shall be deemed to have been reinvested on behalf of the holder and aggregated with th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le relating thereto, the following shall be inserted, namely:- "( v ) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the 1st day of December, 2011, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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