Amendment status not verified — confirm the current text below against the official source.
' Guaraiite by Gover,tmnt of toans,---"I'he Gove,c'lituent I1Itt gtluI'antl:e itt such manner as 'they think fit, the payment 01' the priiteipal and iztlei'est of' any loan propQsed to bo raised., by the Board on debrittures or of cither the principal 'or the interest P,'o'vidd that the Qovernuient shall, so long as an>' such guai'ai'Llccs are iii f'orce, lay before the Legi.sature in every year during' the budget • 5ssi0fl, a statement of' the ua,'arstees, if any, given during the current ytoil' and up-vodate account of' tt,e total sqws, 1' any, whichhave been f)aic[ out of tIkq Consolidated Fund of' the State by reason of' auty such guarantee or paid into the said Fund tOwards i'epayinc'ni of any money so paid Out.' '94. Form, sig1uutur, exchange, transjer and eL/hf qJ' u/mbrnlure.'-'--( I Wheievei' money is I)orrowed by the Board on clebntures the dcbc,xttii'e shalt be in such fo,'01 US the Board tiay with the pvvviows sanction it' the Govern- ment specify. ', All debentures shall be signed by the Cisait'uian ititsh ci tliet' by the Secretary ot' by any One of the ex-offlcio members of the Board, The luoldet' of' any detertiui'e itt any kn'm specified nuder st,b-secti o n I ) may obtain in exchange there(orc it debeiti tue Ill. any uthiei' kiun sjn'ciuiu'cl in the maunci' pl'ovidc'cl in sstb-sec'tiojt (1) • and 11 1)011 such teu'Ii IS LI)' teed may determine, 3741580/2019/OS-HOUSING 191 38 (1:) hvci'y debenture issued by the Board shall be transfct'ahk by, cndorsciocnt unless some other rOode of ti'anskn' is spcciflcd tIi'rcin. (5) All coupOns attacliqd to debciiturcs issued. under this Act s11a1 1 ' hear t he signature of the Chairman; andsucli signattuc may be engavctl, lithographcd or imprcsscd by mcchanicuulpi'Ocess. • Paymettt.c to .rurmnors of joint payee.v .- -Wheu any dben ture or security issued or grant.r.d 'under this Act is payable to two or more perons' jointly; and either or noV of them dies, then' notwithstanding' anything contained .- in section 15 of the Indian COntract Act, 1872 (Central Act 901 102)l' th debenture or security, sli;ull:bcpayablc to the turVivor .or'surViVOrS' of' uch persons : Provided that nothing in this section shallaffqct any claim b the ropc- snta1ivc of the deceased person against such survivorS or surVivo's.