Spouse continuation rights allow spouse to continue senior citizen savings accounts; non-continuing accounts closed and deposits refunded. The amendment inserts provisos to Rule 8(3) allowing the spouse, in a joint account or where the spouse is sole nominee, to continue the Senior Citizen Savings Scheme account on the same terms; if the spouse does not continue the joint account the account shall be closed on application in Form F and the deposit refunded with interest.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Spouse continuation rights allow spouse to continue senior citizen savings accounts; non-continuing accounts closed and deposits refunded.
The amendment inserts provisos to Rule 8(3) allowing the spouse, in a joint account or where the spouse is sole nominee, to continue the Senior Citizen Savings Scheme account on the same terms; if the spouse does not continue the joint account the account shall be closed on application in Form F and the deposit refunded with interest.
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