GOVERNMENT PROMISSORY NOTES ACT

Section 22: Power to make regulations.

1960Section 22 of 23Federal Republic of Nigeria

(1) The Minister may, after consultation with the Governor of the Central Bank, make regulations for the purpose of giving effect to the provisions of this Act.
(2) In particular and without prejudice to the generality of the provisions of subsection (2) of this section, the regulations may provide for all or any of the following matters-
(a) the manner in which payment of interest in respect of Government promissory notes is to be made and acknowledged;
(b ) the circumstances in which Government promissory notes must be renewed before further payment of interest thereon may be claimed;
(c) the issue of duplicate Government promissory notes;
(d) the renewal of Government promissory notes;
(e) the manner of payment of interest to joint holders of Government promissory notes;
(f) the disposal of unclaimed interest;
(g) the payment of principal sums and interest and transfer of Government promissory notes in the case of bodies corporate under a legal disability;
(h) all matters required or permitted by this Act to be prescribed and all matters incidental to or connected with the matters hereinbefore enumerated.

Cite this section

Section 22, GOVERNMENT PROMISSORY NOTES ACT (1960).

https://repo.podus.ai/laws/government-promissory-notes-act/section/22/