Application of Government securities law expands to additional states and union territories with related amendments and repeal. Amendments revise the preamble and territorial application of the Government Securities Act to apply initially to specified States and all Union territories, permit other States to adopt by resolution, and treat the former State of Jammu and Kashmir as a Union territory. The Bill modifies definitions to allow express terms and conditions, omits certain condition qualified language, preserves transferability restrictions issued under the amended definition, removes particular internal provisions, and repeals the Public Debt Act with a saving clause.
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Application of Government securities law expands to additional states and union territories with related amendments and repeal.
Amendments revise the preamble and territorial application of the Government Securities Act to apply initially to specified States and all Union territories, permit other States to adopt by resolution, and treat the former State of Jammu and Kashmir as a Union territory. The Bill modifies definitions to allow express terms and conditions, omits certain condition qualified language, preserves transferability restrictions issued under the amended definition, removes particular internal provisions, and repeals the Public Debt Act with a saving clause.
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