Restriction on transferability of government securities clarified, notifications and terms now govern transferability and related amendments. The Bill revises territorial application and commencement of the Act, updates Jammu and Kashmir's status, and amends issuance and transferability controls by adding 'subject to such terms and conditions' to clause (f) of section 2, omitting certain qualifying phrases in section 3, inserting a saving in section 5(4) protecting restrictions on transferability made by notifications under clause (f), omitting sections 31(1) and 31(2), altering wording in section 32(2)(a), and repealing the Public Debt Act, 1944 with a saving clause.