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Sovereign Gold Bonds Scheme 2015

Income Tax - F. No. 4(19)-W&M/2014 - Dated:- 30-10-2015 - Government of India Ministry of Finance Department of Economic Affairs New Delhi, dated the October 30, 2015 Notification G.S.R. 827(E). - In exercise of the powers conferred by clause (iii) of section 3 of the Government Securities Act, 2006 (38 of 2006), the Central Government hereby makes the following Scheme, namely: - 1. Short title and commencement.- (1) This scheme may be called the . (2) It shall come into force on the date of its .....

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ernment of India Securities Act, 2006. 3. Eligibility for Investment.- (1) The Gold Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. Explanation. - For the purposes of this paragraph, - (i) the expression person shall have the same meaning as defined in clause (u) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999); (ii) the expression p .....

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t holding, the above limits shall be applicable to the first applicant only. (2) The issue price of Gold Bonds shall be made in Indian Rupees on the basis of simple average of closing price of gold of 999 purity of previous week (Monday to Friday) published by the India Bullion and Jewelers Association Limited. 5. Procedure for making application for subscription to Gold Bonds.- (1) Every Subscriber who is desirous of making subscription to the Gold Bonds shall apply to any receiving office in F .....

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l requirements of the application are not fulfilled within period specified in paragraph 6. 6. Date and form of issue of Gold Bonds.- (1) The Gold Bonds shall be issued on the 26th day of November, 2015 in the form of a Stock Certificate as specified in Form C . (2) The Gold Bonds shall be eligible to be converted into De-mat form. 7. Period of subscription.- the Subscription of the Gold Bond under this Scheme shall open on and from the 5th day of November, 2015 and shall closed on the 20st day .....

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e specified in Annexure I shall be authorised to receive applications for the Bonds either directly or through agents. 10. Payment Options.- (1) All payments for Gold Bond shall be accepted in Indian Rupees through cash or demand draft or cheque or electronic banking. (2) Where payment is made through cheque or demand draft, the same shall be drawn in favour of the receiving office. 11. Redemption.- (1) The Gold Bond shall be repayable on the expiration of eight years from the 26th November, 201 .....

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inform the investor of the date of maturity of the Gold Bond one month before its maturity. 12. Eligibility for Statutory Liquidity Ratio.- The investment in the Gold Bonds under this Scheme shall be eligible for Statutory Liquidity Ratio. 13. Loan against Bonds.- (1) The Gold Bonds under this Scheme may be used as collateral security for any loan. (2) The Loan to Value ratio as applicable to any ordinary gold loan mandated by the Reserve Bank of India shall also apply to the Gold Bond under th .....

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