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Section 23 – Public Debt Act,1944

Public Debt Act,1944

Section 23. Discharge in respect of bearer bonds

1[The Government] shall be discharged from all liability on a bearer bond or on any interest coupon of such a bond on payment to the holder of such bond or coupon on presentation on or after the date when it becomes due of the amount expressed therein, unless before such payment an order of a Court in2[India] has been served on the Government re-straining it from making payment.


1. Substituted for the words “the Central Government” by the Public Debt (Central Government) Amendment Act,1949 (6 of 1949), section 6 ( 1 -4-1949).

2. Substituted for the words “the States” by the Public Debt (Amendment) Act,1956 (57 of 1956), section 11 ( 15- 10-1956).

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Public Debt Act,1944

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