The Government Securities Act, 1330 Fasli.
Section 3. Notice of trust not receivable.
Save as otherwise provided in this Act, the Government shall not, in respect of any Government Security, recognize its holder as its trustee. But when any person has obtained succession certificate or probate of the will in respect of any Government security belonging to the estate of a deceased person, the Government may recognize the person whose name is entered in the certificate as its full owner.
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.
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