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8% Relief Bond Scheme

  • Application under Power of Attorney
    1. If the application is signed by a Power of Attorney holder of the applicant who is absent from India, the Power of Attorney should contain express provision to receive interest on and principal amount of Government Securities and /or to negotiate or transfer them. The powers granted should be unconditional.
    2. If the Power of Attorney is executed outside India, it should be attested by a Notary Public of the place where it is executed and by an official of Indian Embassy/consulate under seal. However, documents executed in and attested by the notaries in Hungary, United Kingdom, Belgium, New Zealand and Ireland who have a reciprocal arrangement with India under Section 14 of Notaries Act, 1952 may be deemed as having been duly executed.
    3. The Power of Attorney should be properly stamped under Article 48 of Schedule I to the Indian Stamp Act as applicable to the concerned State. Powers of Attorney granted by a number of persons having separate and distinct interest in the acts to be performed under such powers, should be stamped with the aggregate amount of duty which would have to be paid if each person had executed a separate power. Similarly, a Power of Attorney executed by a person acting in two or more different capacities e.g. when he appoints an attorney to act on his behalf in regard to his own property and also in regard to any property which he has to administer e.g. a guardian of minor ward should be stamped with the aggregate amount of duty which would have to be paid if he had executed a separate power in respect of each of his different capacities.
    4. A Power of Attorney granted to cover a single transaction named therein would attract stamp duty under article 48(c) of Schedule I to the Indian Stamp Act, 1989.
    5. Under a Joint Holders' Power of Attorney, the donee/s should be empowered to draw interest and receipt the security for renewal only.
    6. Index card containing standard clauses normally incorporated in Powers of Attorney authorising Attorneys to deal in Government Securities.
      • To purchase, sell, endorse, transfer and assign all or any Government Securities and securities of any description whatever.
      • To demand and receive all interest and dividends due to accrue due on all or any such securities.
      • To demand and receive all debts, sum of money, principal money, interest, dividends and dues of whatsoever nature or kind which now or at any time hereafter may be due or payable or belong to me.
      • To sign application forms, contracts, agreements, transfer, acceptances, receipts, acquittances, dividend, mandates or other documents.
      • To endorse and transfer to the said Bank any Government Securities, shares, stocks or debentures in any such company or corporation as aforesaid including the said Bank or other stocks, funds, debentures or securities of any description whatever, which may from time to time or at anytime be in the possession of the said Bank, whether for safe custody or otherwise and which may be held by the said Bank as security for any money payable to the said Bank by us jointly or by survivors or survivor of us in respect of any overdraft, general balance account or otherwise.
      • For all or any of the purpose aforesaid to appoint a substitute or substitutes and such substitution as pleasure to revoke.
      • To invest my money in Government Securities.
    7. The relevant Power of Attorney in original must be presented alongwith the application for registration and return alongwith.
      • A copy of the said Power of Attorney duly certified by a Magistrate or Notary Public.
      • The specimen signatures of the attorney on a separate sheet of paper duly attested by a Banker/Magistrate or a Special Executive Magistrate.
  • Application on behalf of a minor
    1. In the case of a minor applicant the date of birth, guardian's name and relationship should be indicated at appropriate place in the application form.
    2. In the case of a minor applicant, a Guardianship Certificate granted by a Competent Court under the provisions of the Guardians and Wards Act (Act 8 of 1890) should be produced. However, the father of a Mohammedan minor and the father, or if the father be dead, the mother of a Hindu minor can sign the application and deal with the bonds on behalf of the minor without obtaining the certificate of guardianship.
    3. A Birth Certificate issued by the Municipal or other competent local authority, Church, Registrar of births/marriages or a Magistrate, the Head of a Gram Panchayat or the Head Master of a school disclosing the name of the minor and the date of birth should be produced in original and a xerox copy thereof alongwith the application made on behalf of the minor.
    4. Evidence showing that the ward is alive at the time must be produced in all cases of negotiation. A formal declaration by the guardian supported by the signature of two respectable witnesses and authenticated by Deputy General Manager/Accounts Asstt. General Manager, Public Debt Office, a Treasury Officer, a Magistrate, a Notary Public or a Bank Official (the Bank Official verifying the declaration should be one whose authority to bind the bank he represents has been registered at the Public Debt Office) will ordinarily suffice.

      The declaration should be stamped in accordance with the provisions of the Stamp Act applicable in that State. If the declaration is to be produced in the State other than that where it is executed, difference in stamp duty will have to be paid. If the declaration is made in the presence of any attested by a Magistrate or any other person empowered to administer oath or affirmation, it will attract stamp duty as an affidavit.
  • Application under the provision of HUF

    If the application is made in the name of HUF, the Karta of HUF has to submit a declaration in the appropriate place in the application form.

  • If the signature is by a thumb impression, it must be witnessed by two respectable persons. Full name, occupation and address of the witnesses should be filled in at the appropriate place in the application form.
  • Application by NRI's

    In case of an NRI investor, a letter of undertaking (duly signed by the investor) is required to be filled in at the appropriate place in the application form.

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