Section 4A in The Government Savings Promotion Act, 1873
4A. Payment on death of depositor .-(1) If a depositor dies and there is in force at the time of the death of the depositor a nomination in favour of any person, the deposit shall be paid to the nominee.
(2)Where the nominee is a minor, the deposit shall be paid-(a)in any case where a person has been appointed to receive it under sub-section (3) of section 4, to that person; and(b)where there is no such person, to the guardian of the minor for the use of the minor.(3)Where a deposit is payable to two or more nominees and either or any of them is dead, the deposit shall be paid to the surviving nominee or nominees.(3A)[ Where the deposit belongs to a minor or to a person of unsound mind who dies and there is no nominee immediately before the date of commencement of Part I of Chapter VIII of the Finance Act, 2018, the deposit shall be paid to the guardian.](4)If a depositor dies and there is no nomination in force at the time of his death and probate of his will or letters of administration of his estate or a succession certificate granted under the Indian Succession Act, 1925 (39 of 1925), is not within three months of the death of the depositor produced to the Secretary of the Government Savings Bank in which the deposit is, then-(a)if the deposit does not exceed [such limit as may be prescribed] [ Substituted by Act 56 of 1985, Section 2, for " five thousand rupees" (w.e.f. 4.9.1985).][, the Secretary may pay the same to any person appearing to him to be entitled to receive it or to administer the estate of the [deceased in accordance with such procedure as may be prescribed.] [Substituted by Act 45 of 1959, Section 3, for Section 4 (w.e.f. 18.9.1959). ][***] [Omitted '(b)' by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.][***]] [Omitted '(5) Nothing contained in this section shall be deemed to require any person to accept payment of a deposit, which is a time deposit, before it has become due.' by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.]
