Amendment status not verified — confirm the current text below against the official source.
(1) When a debenture issued under this Act relating to the Municipal Government is alleged to have been lost, stolen or destroyed either wholly or in part and a person claims to be the person to whom but for the loss, theft or destruction, it would be payable, he may, on application to the Commissioner, and on producing proof to his satisfaction of the loss, theft or destruction and of the justice of the claim, obtain from him an order— (a) if the debenture alleged to have been lost, stolen or destroyed is payable more than six years after the date of publication of the notification referred to in sub-section (2), (i) for the payment of interest in respect of the debenture pending the issue of duplicate debenture, and (ii) for the issue of a duplicate debenture payable to the applicant, or (b) if the debenture alleged to have been lost, stolen or destroyed is payable not more than six years after the date of publication of the notification referred to in sub- section (2), Issue of duplicate securities. 156 [Act No. II of 1956] (i) for the payment of interest in respect of the debenture without the issue of a duplicate debenture, and (ii) for the payment to the applicant of the principal sum due in respect of the debenture on or after the date on which the payment becomes due. (2) An order shall not be passed under sub-section (1) until after the issue of such notification of the loss, theft or destruction of the debenture and after the expiration of such period as may be determined by the Corporation, nor until the applicant has given such indemnity as may be required by the Corporation against the claims of all persons deriving title under the debenture lost, stolen or destroyed. (3) A list of the debentures in respect of which an order is passed under sub-section (1) shall be published in the *Telangana Gazette. (4) If at any time before the Corporation becomes discharged under the provisions of section 162 from liability in respect of any debenture the whole of which is alleged to have been lost, stolen or destroyed, such debenture is found, any order passed in respect thereof under this section shall be cancelled.