2. Definitions
In this Act, unless there is anything repugnant in the subject or context,—
"the Bank" means the Reserve Bank of India;
[(1A) "the Government", in relation to any Government security, means the Central or State Government issuing the security;]
"Government security" means—
a security, created and issued, [by the Government] for the purpose of raising a public loan, and having one of the following forms, namely :—
stock transferable by registration in the books of the Bank; or
a promissory note payable to order; or
a bearer bond payable to bearer; or
a form prescribed in this behalf;
any other security created and issued by [the Government] in such form and for such of the purposes of this Act as may be prescribed;
"prescribed" means prescribed by rules made under this Act;
"promissory note" includes a treasury bill.
Amendment notes (3)
- Ins w.e.f. 1-4-1949 . Ins. by Act 6 of 1949, s. 4 (w.e.f. 1-4-1949).
- Subs w.e.f. 15-10-1956 . Subs. by Act 57 of 1956, s. 5, for certain words (w.e.f. 15-10-1956).
- Subs w.e.f. 15-10-1956 . Subs. by Act 57 of 1956, s. 5, for certain words (w.e.f. 15-10-1956)