Central bank subscription authority expanded to permit Reserve Bank subscription and conversion of government securities by agreement. The amendment authorises the Reserve Bank to subscribe to primary issuances of Central Government Securities under the conditions specified in the proviso to sub-section (2) of section 4, and allows the Reserve Bank to convert Central Government Securities it holds into other Central Government Securities by mutual agreement between the Reserve Bank and the Central Government.
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Provisions expressly mentioned in the judgment/order text.
Central bank subscription authority expanded to permit Reserve Bank subscription and conversion of government securities by agreement.
The amendment authorises the Reserve Bank to subscribe to primary issuances of Central Government Securities under the conditions specified in the proviso to sub-section (2) of section 4, and allows the Reserve Bank to convert Central Government Securities it holds into other Central Government Securities by mutual agreement between the Reserve Bank and the Central Government.
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