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        F. Acts / Amendment Acts

        Section 165 - Amendment of Act 5 of 1873.

        Finance Act, 2023
        Part I
        AMENDMENTS TO THE GOVERNMENT SAVINGS PROMOTION ACT, 1873

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        Payment of eligible depositor balances on death: authorised officers may disburse small unclaimed amounts under prescribed procedure. Substitution of section 4A(4) permits the Authorised Officer, if no nomination or probate/letters of administration/succession certificate/legal heir certificate is produced within six months of a depositor's death, to pay the eligible balance to the person legally entitled or to administer the estate where the eligible balance does not exceed a prescribed limit, subject to prescribed procedure and manner; section 15(2)(i) is amended to provide for prescription of that limit, procedure and manner, and the Schedule (Part A) lists specified savings schemes.
                          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.

                                Payment of eligible depositor balances on death: authorised officers may disburse small unclaimed amounts under prescribed procedure.

                                Substitution of section 4A(4) permits the Authorised Officer, if no nomination or probate/letters of administration/succession certificate/legal heir certificate is produced within six months of a depositor's death, to pay the eligible balance to the person legally entitled or to administer the estate where the eligible balance does not exceed a prescribed limit, subject to prescribed procedure and manner; section 15(2)(i) is amended to provide for prescription of that limit, procedure and manner, and the Schedule (Part A) lists specified savings schemes.


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