(1)When a Government security is alleged to have been lost or destroyed wholly or in part and a person claims that but for its loss or destruction it would be payable to him, he may, on application to the prescribed authority and on producing proof to his satisfaction of the loss or destruction and of the justice or his claim and on payment of the prescribed fee, if any, obtain an order, for,-(a)the payment of interest in respect of the security said to be lost or destroyed pending the issue of a duplicate security; and(b)the issue of a duplicate security to the applicant.
