Section 2(12) in The Bombay Public Trusts Act, 1950
(12)"public securities" means-(a)securities of the Central Government or any State Government;(b)stocks, debentures or shares in Railway or other companies, the interest or dividend on which has been guaranteed by the Central or any State Government;(c)debentures or other securities for money issued by or on behalf of any local authority in exercise of the powers conferred by an act of the Central or State Legislature;(d)a security expressly authorised by an order which the State Government makes in this behalf;
