Nomination rights determine who is entitled to a bonds ledger account and payment on a holder's death, with registration required. Nomination governs entitlement to a Bonds Ledger Account and payment on the death of a sole holder or sole surviving holder who is an individual; a holder may designate one or more persons in the prescribed form, replace or revoke the nomination, and every nomination, cancellation, or variation must be registered at the Reserve Bank of India through the authorised bank to become effective; if a nominee is a minor the holder may appoint a person to receive the account or payments on the minor's behalf.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nomination rights determine who is entitled to a bonds ledger account and payment on a holder's death, with registration required.
Nomination governs entitlement to a Bonds Ledger Account and payment on the death of a sole holder or sole surviving holder who is an individual; a holder may designate one or more persons in the prescribed form, replace or revoke the nomination, and every nomination, cancellation, or variation must be registered at the Reserve Bank of India through the authorised bank to become effective; if a nominee is a minor the holder may appoint a person to receive the account or payments on the minor's behalf.
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