The HIGH DENOMINATION BANK NOTES (DEMONETISATION) ACT, 1978

Sections

Section 1 — Short title, extent and commencement.

(1) This Act may be called the High Denomination Bank Notes (Demonetisation) Act, 1978.

(2) It extends to the whole of India.

(3) It shall be deemed to have come into force on the 16th day of January, 1978.

Browse all 16 sections
  1. 1.Short title, extent and commencement.
  2. 2.Definitions.
  3. 3.High denomination bank notes to cease to be legal tender.
  4. 4.Prohibition of transfer and receipt of high denomination bank notes.
  5. 5.Declaration of high denomination bank notes by banks and Government treasuries.
  6. 6.Exchange of high denomination bank notes held by banks and Government treasuries.
  7. 7.Exchange of high denomination bank notes held by other persons.
  8. 8.Exchange of notes after the time limit specified in section 7.
  9. 9.Closing of banks and Government treasuries.
  10. 10.Penalties.
  11. 11.Special provisions relating to offences.
  12. 12.Protection of action taken in good faith.
  13. 13.Removal of difficulties.
  14. 14.Power to make rules.
  15. 15.Repeal and saving.
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