Section 13 in The Orissa Government Securities Rules, 1938
13. Issue of duplicate note and taking of Indemnity.
- After the publication of the last notification prescribed in Rule 12, the Bank shall, if it is satisfied of the loss, theft or destruction of the note and of the justice of the claim of the applicant, cause the particulars of the note to be included in a list such as is referred to in Sub-section (3) of Section 10 of the Act, and shall order the Public Debt Office-(1)if only a portion of the note has been lost, stolen or destroyed and if a portion of the note sufficient for its identification has been produced, to issue to the applicant, on the execution of an indemnity bond such as is hereinafter mentioned, a duplicate note in place of that of which a portion has been so lost, stolen or destroyed, six months after the date of the publication of the said list ; and(2)if no portion or no sufficient portion of the note so lost, stolen or destroyed has been produced-(a)to pay to the applicant, two years after the publication of the said list, and on the execution of an indemnity bond in the manner hereinafter prescribed, the interest in respect of the note so lost, stolen or destroyed pending the issue of a duplicate note; and(b)to issue to the applicant a duplicate note in place of the note so lost, stolen or destroyed six years after the date of publication of the said list; provided that-(i)if the date on which the note is due for repayment falls earlier than the date on which the said period of six years expires, the Financial Secretary shall, within six weeks of the former date, invest the principal amount due on the note in the Post Office Savings Bank unless, before the expiry of such period, the applicant has made a specific request for the investment of the amount in securities of any of the current rupee loans of the Central Government or the Government of Orissa maturing not earlier than the date on which the duplicate is due for issue, and in that case, shall invest the amount in such securities, and deposit the balance, if any, left after such investment in the Post Office Savings Bank. The Bank shall repay the amount invested in the Post Office Savings Bank, together with any interest which may have accrued thereon and, if any investment has been made in Government securities, issued by the Government of Orissa or by the Central Government, as the case may be, shall deliver such securities, together with the interest accrued thereon to the applicant at that time when a duplicate note would otherwise have been issued, and(ii)if at any time before the issue of the duplicate note the original note is discovered or it appears to the Public Debt Office for other reasons that the order should be rescinded, the matter shall be referred to the Financial Secretary for further consideration and in the meantime all action on the order shall be suspended.
