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TMI BlogSovereign Gold Bond Scheme 2021-22X X X X Extracts X X X X X X X X Extracts X X X X ..... azette. 2. Definition.- In this Scheme, unless the context otherwise requires: a) "Form" means a form appended to this Scheme; b) "Receiving office" means the offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks (as specified in Annexure I to this Notification), designated Post Offices (as specified in Annexure II to this Notification), Stock Holding Corporation of India Ltd. (SHCIL) and the authorised stock exchanges as specified in Annexure III to this Notification. c) "Stock Certificate" means the Gold Bond issued in the form of Government of India Stock in accordance with section 3 of the Government Securities Act, 2006. 3. Eligibility for Investment.- The Gold Bonds under this Scheme ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Certificate of Registration as a charitable institution in accordance with a law in force; or Any institution which has obtained a certificate from an Income Tax Authority for the purposes of Section 80G of the Income Tax Act, 1961. (v) "University" means a university established or incorporated by a Central, State or Provincial Act, and includes an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956), to be a university for the purposes of the Act. 4. Denomination, Subscription limit and Pricing.-- (i) The bonds will be issued in denominations of one gram of gold or multiples thereof; Provided that the minimum limit of subscription for the Bonds issued shall be of one gram and ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the instructions contained in the Application Form. (iii) Every application must be accompanied by the 'PAN Number' issued by the Income Tax Department to Individuals and other entities. (iv) On receipt of an application under sub paragraph (i), the receiving office shall issue an acknowledgment receipt in Form 'B', if all requirements of the application are fulfilled. (v) An incomplete application is liable to be rejected. 6. Date and form of issue of Gold Bonds.-- (i) The Gold Bonds shall be issued on the in the form of a Stock Certificate, as specified in Form 'C'. (ii) The Gold Bonds shall be eligible to be converted into Demat form. 7. Period of subscription.- The Subscription of the Gold Bonds under this Scheme shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded that premature redemption of Gold Bonds may be permitted after fifth year from the date of issue of Bonds and such repayments will be made on next interest payment date. (ii) On maturity, the Gold Bonds shall be redeemed in Indian Rupees and the redemption price shall be based on simple average of closing price of gold of 999 purity of previous 3 working days, published by the India Bullion and Jewelers Association Limited. (iii) The RBI / depository shall inform the investor one month in advance, about the date of maturity of the Bond. 13. Eligibility for Statutory Liquidity Ratio.- Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio. 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not be repatriable. 17. Transfer of Gold Bonds.- The Gold Bonds issued in the form of Stock Certificate are transferable by execution of an Instrument of transfer as in Form 'F', in accordance 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 the 1st December 2007. 18. Trading of Gold Bonds.- The Gold Bonds shall be eligible for trading from such date as may be notified by the Reserve Bank of India. 19. Commission for mobilizing subscription.- The commission for mobilising subscription towards these bonds shall be paid at the rate of Rupee one per hundred Rupees of the total subscription received by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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