(1)Where the State Government opt to redeem any class or classes of Bonds at any time before the expiry of the period of 40 years from the date of issue of such Bonds they will inform the Public Debt Office, [Patna] [Substituted by Notification No. 339 L.R., dated 14.1.1960.], of such class or classes of Bonds and the amount available for their redemption not later than six months before the date proposed for such redemption. On receipt of such information the Public Debt Office, [Patna] [Substituted by Notification No. 339 L.R., dated 14.1.1960.], will arrange for the drawing of lots and will, on the completion of the draw, send a list of the Bonds drawn and to be redeemed to the Government in the Revenue Department (Land Reforms Section) not later than three months before the proposed date of redemption. The list will show the names of the Treasuries at which the Bonds are enfaced. The Revenue Department (Land Reforms Section) will cause this list to be published in the Official Gazette and will at the same time, send a notice of discharge to the Treasury Officer concerned, the Public Debt Office, [Patna] [Substituted by Notification No. 339 L.R., dated 14.1.1960.] and the Collector of the district concerned not later than six weeks before the date of redemption.(2)The Collector shall, on receipt of a notice of discharge under sub-rule (1); publish a copy of it in his Notice Board, and shall also send extracts thereof to each Sub-divisional Officer concerned for similar publication in his Notice Board.(3)Government Securities Manual. - List of redeemed Bonds. - The procedure laid down in Chapter VIII of the Government Securities Manual (Third Edition) for payment of terminable loans read with Rule 15 of the Public Debt (Compensation Bonds) Rules, 1954 shall apply mutatis mutandis to the payment of the outstanding amount of the Bonds to be redeemed. Such Bonds shall, after redemption, be forwarded by the Treasury Officer to the Public Debt Office, [Patna] [Substituted by Notification No. 399 L.R., dated 14.1.1960.] together with a list of such Boards in duplicate, and a copy of such list shall also be sent by him to the Collector of the district, the Accountant General, Bihar and the Government in the Revenue Department (Land Reforms Section) for information.
