Amendment status not verified — confirm the current text below against the official source.
When any debenturc or security issucd under this Ac[ is hyriunlsto puyablc ro two or more p m n s joinrly, and eilhrr ar any of them dies. ~ ~ ~ L i IXuf 187:. then, norwi~hslanding anything in sccrion 45 of ihe Indian Contract Act, 1872, rhc debcn~ure or sccurily shall be payable to lhc survior or survivors of such pcrsons: Providcd [ha1 nolhing in this scciion shall affecl any claim by ihc represenlarive of a deceascd Frson againsl such survior or-survivors. Rtccipt by joinr hgldcr for inrrnxi ordividcnd. t'riorily 01 p~yltk'rits for iolcresr and n.pdylicnl al ~OUIS. Kc pay men1 0Cloms rnlic~l undcr scclion 98. P o K ~ ~ [ o diszonr~nue pylncnrs inlo sinking funds. The Hoivrutr ~tr~prnvc~~rc~rr Act, 1956. [West Den. Act