Sovereign Gold Bonds, 2015-16 - Terms and Conditions

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..... uance of the Bonds shall be as follows: 1. Eligibility for Investment: The Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. The bond may also be held by a Trust, Charitable Institution and University. Person resident in India is defined under section 2(v) read with section 2(u) of the Foreign Exchange Management Act, 1999 2. Form of Security The Bonds shall be issued in the form of Government of India Stock in accordance with section 3 of the Government Securities Act, 2006. The investors will be issued a Holding Certificate ( Form C ). The Bonds shall be eligible for conversio .....

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..... 2016, the date of issue of Gold bonds. Pre-mature redemption of the Bond is permitted from fifth year of the date of issue on the interest payment dates. ii. The redemption price shall be fixed in Indian Rupees on the basis of the previous week s (Monday Friday) simple average closing price for gold of 999 purity, published by IBJA. 10. Repayment The receiving office shall inform the investor of the date of maturity of the Bond one month before its maturity. 11. Eligibility for Statutory Liquidity Ratio (SLR) The investment in the Bonds shall be eligible for SLR. 12. Loan against Bonds The Bonds may be used as collateral for loans. The Loan to Value ratio will be as applicable to ordinary gold loan mandated by t .....

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..... d at the rate of rupee one per hundred of the total subscription received by the receiving offices on the applications received and receiving offices shall share at least 50% of the commission so received with the agents or sub-agents for the business procured through them. 19. All other terms and conditions specified in the notification of Government of India in the Ministry of Finance (Department of Economic Affairs) vide number F. No.4(13) W M/2008, dated 8th October 2008 shall apply to the Bonds. Yours faithfully, (Arun Bhagoliwal) Deputy General Manager - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI .....

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