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The Specified Bank Notes (Cessation of Liabilities) Act, 2017

Central

An Act to provide in the public interest for the cessation of liabilities on the specified bank notes and for matters connected therewith or incidental thereto.

Act number
2 of 2017
Ministry
Ministry of Finance
Department
Department of Economic Affairs
Enacted
27 Feb 2017

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

13 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions.
  3. Section 3Specified bank notes to cease to be liability of Reserve Bank or Central Government.
  4. Section 4Exchange of specified bank notes.
  5. Section 5Prohibition on holding transferring or receiving specified bank notes.
  6. Section 6Penalty for contravention of section 4.
  7. Section 7Penalty for contravention of section 5.
  8. Section 8Offences by companies.
  9. Section 9Special provisions relating to offences.
  10. Section 10Protection of action taken in good faith.
  11. Section 11Power to make rules.
  12. Section 12Power to remove difficulties.
  13. Section 13Repeal and savings.