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[Cites 0, Cited by 0] [Section 21] [Entire Act]

Union of India - Subsection

Section 21(1) in The Post Office Savings Certificates Rules, 1960

(1)The holder of the single Holder Type Certificate referred to in clause (i) of sub-rule (2) of Rule 4 may nominate any person who, in the event of death, shall become entitled to the certificate and to the payment of the amount due thereon by selling in the necessary particulars in Form A at the time of purchasing the certificate. If such a holder does not fill the necessary particulars regarding nomination at the time of purchasing the certificate, he may, at any time after the purchase of the certificate, but before the maturity thereof or before the expiry of the period during which the certificate continue to earn interest after maturity, as the case may be, make an application in Form B affixing postage stamps of the value specified in sub-rule (2) of Rule 32 to the Postmaster of the office at which the certificate stands registered, nominating any person who in the event of death shall become entitled to the certificate and to the payment of the amount thereon. Provided that in the case of a certificate of the denomination Rs.100 or below, the holder shall not be entitled to nominate more than one person.