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TMI BlogSovereign Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IVX X X X Extracts X X X X X X X X Extracts X X X X ..... ies I/II/III/IV. Under the scheme there will be a distinct series (starting from Series I) for every tranche which will be indicated on the Bond issued to the investor. The Government of India may, with prior notice, close the Scheme before the specified period. The terms and conditions of the issuance 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, HUFs, Charitable Institution and University. Person resident in India is defined under clause (v) of section 2 of the Foreign Exc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eding the subscription period. The issue price of the Gold Bonds will be ₹ 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. 6. Period of subscription.- The Subscription of the Gold Bonds under this Scheme shall be open as specified in Section 7 below. Provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above 7. Calendar of Issuance.- S.No. Tranche Date of Subscription Date of Issuance 1 2019-20 Series I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fice. 11. Redemption i) The Bonds shall be repayable on the expiration of eight years from the date of issue of the Bonds. Pre-mature redemption of the Bond is permitted after fifth year of the date of issue of the Bonds and such repayments shall be made on the next interest payment date. ii) The redemption price shall be fixed in Indian Rupees and the redemption price shall be based on simple average of closing price of gold of 999 purity of the previous 3 working days, published by the India Bullion and Jewelers Association Limited. 12. Repayment RBI/depository shall inform the investor about the date of maturity of the Bond one month before its maturity. 13. Eligibility for Statutory Liquidi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ordance with the provisions of the Government Securities Act, 2006 (38 of 2006) and the Government Securities Regulations, 2007, published in part III, Section 4 of the Gazette of India dated December 1, 2007. An individual Non - resident Indian may get the security transferred in his name on account of his being a nominee of a deceased investor provided that: the Non-Resident investor shall need to hold the security till early redemption or till maturity; and the interest and maturity proceeds of the investment shall not be repatriable. 18. Transferability The Bonds issued in the form of Stock Certificate shall be transferable by execution of an Instrument of transfer as in Form F , in accordance ..... X X X X Extracts X X X X X X X X Extracts X X X X
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