Amendment status not verified — confirm the current text below against the official source.
(1) hotwithstanding anything contained in section 45 of the Indian ~ont'ract Right ofjoin Act, 1872- or several payees of (a) when the Board security is payable to two or moie p w n s jqinqy securities. an6 either or any of them dies, the Board security shslll be payable to the survivors of those persons, and I (b) when any such security is payable to two o; more persons severally and all or any of them dies, the security shall be payable to the survivor or $qrvivors of those persons or to the rev1 esentatives M the deceased or to any of them. (2; This section B s 11 apply whether such death occurred 'or occurs before or after the ~ppointed day. (3) Nothing herein contained shtill affect any claim which any representative of a deceased person may have againathe survivor or survivors under of in respect of any seourity to which s3bsection (1) applies. I . < (4) For the purposes of this seqtion, a body ir.corporitte~ or deemed to be (Lntral I or inc01~0ratCd under the Companies Act, 1956. ,Cr tht~ Timi! ~ a d u Co-operative