Conversion of National Savings Certificates: denominations may be exchanged subject to equal aggregate face value and retention of original certificate dates. Rule 23 permitted exchange of National Savings Certificates between denominations provided the aggregate face value remained unchanged; certificates with different issue dates could not be combined to obtain a higher denomination; and exchanged certificates retained the original certificate date(s) rather than the exchange date. The rule has since been omitted.
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.
Conversion of National Savings Certificates: denominations may be exchanged subject to equal aggregate face value and retention of original certificate dates.
Rule 23 permitted exchange of National Savings Certificates between denominations provided the aggregate face value remained unchanged; certificates with different issue dates could not be combined to obtain a higher denomination; and exchanged certificates retained the original certificate date(s) rather than the exchange date. The rule has since been omitted.
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