Section 4. Rights of survivors of joint payees.

(1) Notwithstanding the provisions of section 46 of the 1Hyderabad Contract Act No. VI of 1316 Fasli, when the amount of any Government security is payable to two or more persons jointly and one or more of them die, the amount of such security shall be payable to the survivor or survivors. (2) When the amount of any Government security is payable to two or more persons jointly and one or more of them die; the amount of such security shall be payable to the survivor or survivors or to the representative of the deceased or to any of them. (3) Nothing contained in this section shall affect any claim which any representative of a deceased person may have against the survivor or survivors in respect of any Government security payable to the survivor or survivors and the deceased jointly or severally. (4) This section shall apply in every case whether the death of the person to whom any Government security is payable jointly or severally occurred before or occurs after the commencement of this Act.