Government securities amendment removes conditional terms, updates territorial application, restricts transfer provisions and repeals prior public debt statute. The Finance Bill, 2025 amends the Government Securities Act, 2006 to specify initial territorial application and commencement, updates references to Jammu and Kashmir, inserts and omits qualifying phrases in section 2(f) and section 3 regarding 'subject to such terms and conditions', revises section 5(4) to preserve transferability restrictions in notifications under section 2(f), omits sections 31(1) and (2), removes certain terms in section 32(2)(a), and repeals the Public Debt Act, 1944 with a saving clause.
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Government securities amendment removes conditional terms, updates territorial application, restricts transfer provisions and repeals prior public debt statute.
The Finance Bill, 2025 amends the Government Securities Act, 2006 to specify initial territorial application and commencement, updates references to Jammu and Kashmir, inserts and omits qualifying phrases in section 2(f) and section 3 regarding "subject to such terms and conditions", revises section 5(4) to preserve transferability restrictions in notifications under section 2(f), omits sections 31(1) and (2), removes certain terms in section 32(2)(a), and repeals the Public Debt Act, 1944 with a saving clause.
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