Section 4(2) in Public Debt (Annuity Certificates) Rules, 1954
(2)[ Payment of Commutation value of Annuity Certificates.- [Inserted by G.S.R. 1257, dated 29.9.1962] At the option of the holder, payment of commutation value may be made to him on his applying the writing to the Public Debt Office and surrendering the annuity certificates duly discharged in Form AIII. The Public Debt Office may authorise payment at any treasury or sub-treasury in India or at a branch of the State Bank of India or any of its subsidiary Banks conducting Government treasury business, as may be specified by the holder.]
