Territorial application of government securities law expanded; definitions and transferability rules amended and certain subsections removed. The Bill revises territorial application and commencement of the Act, updates references to Jammu and Kashmir as a Union territory, and makes targeted textual amendments to definitions and operative provisions-adding qualification language to section 2(f), deleting specified phrases from sections 2 and 3, clarifying that subsection (4) of section 5 does not affect transferability restrictions under section 2(f), omitting subsections (1) and (2) of section 31, altering section 32(2)(a), and repealing the Public Debt Act, 1944 with a saving clause.