Section 3: Transfer of Government securities — Public Debt, Act, 1944

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.

Discuss this provision with AI

3. Transfer of Government securities.— (1) Subject to the provisions of section 5, a transfer of a Government security shall be made only in the manner prescribed for the making of transfers of securities of the class to which it belongs, and no transfer of a Government security 4[which, in the case of a security issued by the 5[Federal Government] is made after the thirtieth day of April, 1946, and in the case of a security issued by a Provincial Government, is made after the commencement of the Public Debt 5[Federal Government] (Amendment) Ordinance, 1961] shall be valid if— (a) it does not purport to convey the full title to the security, or (b) it is of such a nature as to affect the manner in which the security was expressed by the 3[Government] to be held. (2) Nothing in this section shall affect any order made by the Bank under this Act, or any order made by a Court upon the Bank.

Effective date: 1944-01-01

Related sections

Section 2: Definitions. In this Act, unless there is anything repugnant in the subject or context,Section 4: Transferor of Government securities not liable for amount thereof Section 1: Short title, extent and commencement Section 5: Holding of Government securities by holders of public offices Section 6: Notice of trust not receivable 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.