Transfer registration of government securities restricted to prescribed manner, aligning issuance, payment duties and tax exemption under a debt agency. The Bill creates a Public Debt Management Agency to minimise long term debt cost and risk, governed by a Board under Central Government superintendence. The Agency will collect and publish public debt information, buy, re issue and trade Government securities, and may be entrusted with issuing securities. It must make payments to holders per security terms. Clause 129 requires transfers of Government securities to be registered only in a prescribed manner, subject to court orders, and the Agency is to be exempt from taxes.
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Transfer registration of government securities restricted to prescribed manner, aligning issuance, payment duties and tax exemption under a debt agency.
The Bill creates a Public Debt Management Agency to minimise long term debt cost and risk, governed by a Board under Central Government superintendence. The Agency will collect and publish public debt information, buy, re issue and trade Government securities, and may be entrusted with issuing securities. It must make payments to holders per security terms. Clause 129 requires transfers of Government securities to be registered only in a prescribed manner, subject to court orders, and the Agency is to be exempt from taxes.
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