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Substitution of new sections 3, 3A and 3B for section 3-Definitions- Framing of Savings Schemes- Deposit by minor

Section 118 - Finnace Acts - AMENDMENTS TO THE GOVERNMENT SAVINGS BANKS ACT, 1873 - FINANCE ACT, 2018 - Section 118 - Substitution of new sections 3, 3A and 3B for section 3. 118. For section 3 of the principal Act, the following sections shall be su .....

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Succession Act, 1925 (39 of 1925); (c) Authorised Officer means- (i) in the case of a Post Office Savings Bank, an officer authorised by the Director General Posts; and (ii) in the case of State Bank of India or a banking company or any other compan .....

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Regulation Act, 1949 (10 of 1949); (e) depositor means an individual by whom, or on whose behalf money has been deposited in a Government Savings Bank and deposit means the money so deposited; (f) executor means an executor as defined in clause (c) o .....

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n the Official Gazette, specify for the purposes of this Act; (h) guardian , in relation to a minor or a person of unsound mind means- (i) either of the parents; (ii) where neither parent is alive or where neither or the only living parent is incapab .....

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not attained the age of majority under the Indian Majority Act, 1875 (9 of 1875); (j) prescribed means prescribed by rules made under this Act; (k) Savings Schemes means the Government Savings Schemes, including Savings Certificates and Public Provi .....

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xisting Savings Schemes to promote household savings in the country. (2) The Central Government may, by notification in the Official Gazette, include or omit or amend Savings Schemes in the Schedule. (3) The notification referred to in sub-section (1 .....

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