Immunity for Special Bearer Bonds: subscription and acquisition shielded from disclosure and inquiry, subject to specified criminal and civil exceptions. Subscribers or acquirers of Special Bearer Bonds are not required to disclose the nature or source of acquisition; no inquiry or investigation may be ... Summary
Referred In :
Special Bearer Bonds (Immunities And Exemptions) Act, 1981
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Immunity for Special Bearer Bonds: subscription and acquisition shielded from disclosure and inquiry, subject to specified criminal and civil exceptions.
Subscribers or acquirers of Special Bearer Bonds are not required to disclose the nature or source of acquisition; no inquiry or investigation may be commenced on that ground; and the fact of subscription or acquisition is inadmissible as evidence in other proceedings. These immunities do not apply to prosecution for serious penal offences or under the Prevention of Corruption Act, similar offences under other laws, or for enforcement of civil liabilities, with "civil liability" expressly excluding tax liability.
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