Section 3 in Public Debt (Annuity Deposit Certificates) Rules, 1966
3. Payment of annuity.-
(1)An annuity deposit certificate may be enfaced for payment of annuities at any branch within India of the State Bank of India or any of its subsidiary banks or at any Public Debt Office. Any change in enfacement of an annuity deposit certificate shall be allowed only if the holder thereof complies with such formalities as may be prescribed by the Public Debt Office.(2)Where an annuity deposit certificate is enfaced at a branch of the State Bank of India or any of its subsidiary Bank, the annuity due shall be paid on presentation of the certificate along with a receipt of Form 6 prescribed under the Annuity Deposit Scheme :Provided that the Public Debt Office may, on presentation of the certificate, pay the annuity due by a warrant payable at the branch where the certificate is enfaced.(3)Where an annuity deposit certificate is enfaced at a Public Debt Office, the annuity due shall be paid, on presentation of the certificate, by means of a warrant payable at the local office of the Bank or branch of the State Bank of India or its subsidiary bank conducting Government treasury work.(4)An Annuity Deposit Certificate shall not be transferable.
