The SPECIFIED BANK NOTES (CESSATION OF LIABILITIES) ACT, 2017

Sections

Section 1 — Short title and commencement.

(1) This Act may be called the Specified Bank Notes (Cessation of Liabilities) Act, 2017.

(2) It shall be deemed to have come into force on the 31st day of December, 2016.

Browse all 13 sections
  1. 1.Short title and commencement.
  2. 2.Definitions.
  3. 3.Specified bank notes to cease to be liability of Reserve Bank or Central Government.
  4. 4.Exchange of specified bank notes.
  5. 5.Prohibition on holding transferring or receiving specified bank notes.
  6. 6.Penalty for contravention of section 4.
  7. 7.Penalty for contravention of section 5.
  8. 8.Offences by companies.
  9. 9.Special provisions relating to offences.
  10. 10.Protection of action taken in good faith.
  11. 11.Power to make rules.
  12. 12.Power to remove difficulties.
  13. 13.Repeal and savings.