Section 4: Transferor of Government securities not liable for amount thereof

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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4. Transferor of Government securities not liable for amount thereof.— Notwithstanding anything contained in the Negotiable Instruments Act, 1881 (XXVI of 1881), a person shall not, by reason only of his having transferred a Government security, be liable to pay any money due either as Principal or as interest there under.

Effective date: 1944-01-01

Related sections

Section 3: Transfer of Government securities Section 5: Holding of Government securities by holders of public offices Section 2: Definitions. In this Act, unless there is anything repugnant in the subject or context,Section 6: Notice of trust not receivable Section 1: Short title, extent and commencement Section 7: Persons whose title to a Government security of a deceased sole holder may be

Version public-debt-act-1944~PK-FED~base · Source-traceable official reference. LawHub does not modify the official record.