Section 8 in Public Debt (Annuity Certificates) Rules, 1954
8. [ Execution of Bonds by persons entitled to Annuity Certificates.- [Inserted by G.S.R. 980, dated 11.7.1964]
In cases to which Sections 9, 10, 11 or 12 of the Act applies, the Bank may require any person considered by it as being entitiled to an annuity certificate to execute a bond in Form B with one or more sureties approved by the Public Debt Office, or to furnish security in the form of Government securities, not execeeding twice the value of the subject matter of the order, to be held at the disposal of the Bank, to pay to the Bank or to any person to whom the Bank may assign such bond or security, in furtherance of sub-section (2) of section 16 of the Act, the amount thereof.]
