Government Security: Central or State-Issued for Public Loans under Securities Contracts Act 1956 & Public Debt Act 1944.

A government security, as defined by the Securities Contracts (Regulation) Act, 1956, and the Public Debt Act, 1944, refers to a security issued by the Central or State Government to raise public loans. These securities can take various forms, including stock transferable by registration, promissory notes payable to order, bearer bonds payable to bearer, or any prescribed form. Additionally, it encompasses any other security issued by the government in a prescribed form for purposes outlined in the relevant acts.