LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT
Section 36: Discharge in other cases.
Save as otherwise provided in this Act the liability of the Government shall-(a) in respect of any registered stock or security redeemed on or after the date on which payment of the principal amount becomes due, be discharged after the lapse of six years from that date;
(b) in respect of any security in place of which a duplicate is issued under section 30 of this Act, be discharged after the lapse of six years from the date of the issue of such duplicate or from the date of the last payment of interest on such security, whichever date is the later;
(c) in respect of a security for which a renewed security is issued under section 30 of this Act, or in respect of stock or securities in place of which new stock or securities are issued upon an exchange under section 32 of this Act, or upon a consolidation or subdivision under section 33 of this Act, be discharged after the lapse of six years from the date of the issue of the renewed security or of the new stock or securities, as the case may be.
Cite this section
Section 36, LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT (1946).
https://repo.podus.ai/laws/local-loans-registered-stock-and-securities-act/section/36/