Section 2(51) in The Bombay Provincial Municipal Corporations Act, 1949
(51)"public securities" means-(a)securities of the Central Government or any [State] Government,(b)securities, stocks, debentures or shares the interest whereon has been guaranteed by the Central or the [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 any enactment for the time being in force in any part of [the territory of India],(d)securities expressly authorised by any order which the [State] Government makes in this behalf;
