Subject NOT available

click here for IIIF manifest

REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 141] NEW DELHI, SATURDAY, JUNE 17, 1972/JYAISTHA 17,1894

Separate paging is given to this part in order that It may be filed as a separate compilation

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATIONS

New Delhi, the. 17th .June 1972

No. F.3(18)-NS/7e/(i).—The President hereby makes the following rules further to amend the Post Office Savings Bank (Cumulative Time Deposit) Rules, 1959, namely: —

1 (1) These rules may be called the Post Office Saving- Bank (Cumulative Time Deposits) (Fifth Amendment) Rules, 1972.

(2) They shall come into force on the 1st July, 1972.

2. In the Post Office Savings Bank (Cumulative Time Deposits) Rules, 1959,—

(a) in sub-rule (1) of rule 10, in the opening paragraph, after the words "the survivor may", the words, figures and letter "subject to the provisions of rule 10A" shall be inserted;

(1153)

"10A,. Payment of full maturity value on the death of depositor in certain cases,—

(i) On the death on or after the 1st July, 1972 of a depositor in a single 5 year account or of the surviving depositor in a joint 5 year account of the denomination of Rs. 5 or Rs. 10, not being a discon- tinued account, the legal heir or nominee, as the case may be, of such depositor, shall be entitled to the full maturity value of the account, including bonus, less value of defaults, if any, with interest due and the amount of withdrawals outstanding, if any, with interest thereon, provided the following conditions are satisfied, namely:-—

(a) Twenty-four months have elapsed from the date of the opening of the account, and during the said period, monthly instalments have been paid into the account without any default and there has been no withdrawal from the account during the said period.

NOTE ; A defaulted Instalment paid with interest before the death of the depositor or surviving depositor, as the case may be, shall not be treated as a default.

(b) The age of the depositor or depositors, as the case may be, at the time of opening the account was not less than 18 years and not more than 53 years.

NOTE: Every depositor in. one account opened before the 1st July, 1972 shall give a declaration to the Post Office on plain paper indicat- ing the age at the time of the opening of the account and every depositor in one account opened on or after the said date shall make such a declaration on the application for opening the account.

(c) The legal heir or nominee, as the case may be, of the deceased depo- sitor has not made any claim, or has not already been given the benefit in respect of any other account under this rule or in res- pect of a Recurring Deposit account under rule 11A of the Post Office (Recurring Deposits^ Rules, 1970, held by the same deceased depositor.

(ii) If a depositor or tha surviving depositor, as the case may be. has rr>ore than one 5 year account of the denomination of Rs. 5 or Rs. 10, the benefit of payment under this rule shall be available in respect of only one account which may be specified by the depositor or surviv- ing depositor, as the case may be. Such depositor may change the option and specify another account if he so desires by an application, to the Post Office where the account stands registered. If no such account has been so specified by such depositor, the benefit of pay- ment shall be admissible in respect of the earliest account of the denomination of Rs. 10, if any, which qualifies for payment and if there is no such account of the denomination of Rs. 10, then in res- pect of the earliest account of the denomination of Rs. 5 which qua- lifies for payment.

(iii) The legal heir or nominee, as the case may be shall, on the death of the depositor or the surviving depositor, as the case may be, apply in triplicate in Form PSP-I annexed to these rules, to the Post Office where the account stands registered, not later than one year from the death of such depositor. A death certificate, or a certified copy thereof shall be attached with the claim. The claim shall be sanctioned by the Head Postmaster after verification from the Office of the National Savings Commissioner, Nagpur, that the benefit of the payment of full maturity value on death has not been prevloasly availed of by the legal heir or nominee of the deceased depositor in respect of any other nf^'int including a Recurring Deposit account opened under the Post Office (Recurring Deposits) Rules, 1970.";

(c) after Table III, the following Form shall be added, namely;—.

"To be filled in triplicate.

FORM PSP-1.

To

The Postmaster,

Subject:—Claim under the scheme of Protected Savingg.

Sir,

In connection with the settlement of claim of 5-year CTD/P.O. Recurring Deposit account.

No Standing in the name of In the boolt3 of Post Office, I/We a

(State full relationship) of the deceased,

who died on at ^(place of death), hereby claim

the full maturity value of the account under the scheme of Protected Savings.

In support of the claim, I hereby submit:

(i) A death Certificate issued by

*(ii) A succession Certificate granted by under

No ,..-,.. dated

* (iii) Probate of will granted by

under No dated

*(iv) Letters of Administration of the Estate of the deceased granted b y . , ..

under No

•

dated.. T

•*(v) I/We/am/are nominees of the deceased as per nomination registered in, your records

I/We certify that I/We have not made any claim in respect of any other CTD flr Recurring Deposit account standing in the name of the above deceased under Ihe Protected Savings Scheme nor shall I/We do so iii future, CCross out whichever is not applicable). C: ;In case of nominees, items (il), (iii) & (lv) are not necessary).

Particulars of deceased account holder

(i) Full Name (ii) Son/Daughter/Wife of (iii) Last address

Particulars Of near relatives.

S. No.

Name Age Relationship Address

1.

2. 3- 4. 5.

To my/our [knowledge, the deceased had the following other CTD/Recurring" Deposit Accounts on which I/We shall not claim the benefit under the Protected Savings Scheme and shall claim only the proportionate amounts payable under the C7T.D. /R.D. Rules.

S. No.

Type of

Denomi- nation

Account No.

Name of nominee if any

Date of openin g account

account CTD/RD

P.Oat

which account

stands

6

i

7

4

3

i. 2. 3. 4.

Yours faithfully,

Signature (a) of claimant (B)

Address: — (i)

(ii)

Certificate by two witnesses

We hereby certify that the person who has applied for and put his signature to the application for the payment is the real claimant and the same person in whose favour the succession certiflcate/probate of will/Letters of administration has been granted by the court.

1. Signature and Address

2. Signature and Address

To be filled in by the Postmaster

Certified that the particulars stated above have been checked with the Postal records and I am satisfied that the claimanUs) is/are nominee (s)/heir (s) of the deceased.

Also certified that the age of the account holder at the time of opening the account, as given in Application Form/Declaration given by the account holder, was years.

Forwarded in duplicate to the Central Registration Office, Office of the National Savings Commissioner, Post Box No. 96, Nagpur, for verification if any claim under the Protected Savings Scheme has already been registered in the name of the above deceased.

Signature of the Postmaster.

Seal of Post Office.

To be filled in by the Central Registration Office

'Certified that no claim has been previously registered In tbl> office In respect

(deceased) account holder of CTD/

of Shrl Recurring Deposit Accounts mentioned above, who died on at , The claim may, thus, be admitted 11 otherwise found In order.

Registration No

•Certified that a claim haa already been registered in respect of a C.T.D./ Recurring Deposit account standing in the name of Shri deceased. The particulars are as under: — CTD/RD Account No of denomination Rs opened at P. O on Name of the claimant(s)

(Nominee (s) /heir (s) Registration No dated , •Delete which-ever is not applicable. Seal of Central Registration Office.

To

Postmaster

Signature of Officer

Incharge of Central

Registration Office."

No. F. 3(28)-NS/70/(ii).—The President hereby makes the following rules

further to amend the Post Office (Recurring Deposits) Rules, 1970, namely: —

1. (1) These rules may be called the Post Office (Recurring Deposits) (Fifth Amendment) Rules, 1972.

(2) They shall come into force on the 1st July, 1972.

2. In the Post Office (Recurring Deposits) Rules, 1970,—

(a) in sub-rule (1) of rule 11, in the opening paragraph, after the words, "the survivor may", the words, figures and letter ^'subject to the provisions of rule 11 A" ahall be inserted;

(b) after rule 11, the following rule shall be inserted, namely: —

"11A. Payment of jull maturity value on the death Of depositor in certain

cases,—

(i) On the death on or after the 1st July, 1972 of a depositor in a single account, or of the surviving depositor in a joint account of the denomination of Rs. 5 or Rs. 10, not being a discontinued account, the legal heir or nominee, as the case may be, of such depositor, shall be entitled to the full maturity value of the account, less value of defaults, if any, with interest due and the amount of withdrawals outstanding if any, with interest thereon, provided the following conditions are satisfied, namely: —

(a) Twenty-four months have elapsed from the date of the opening of the account, and during the said period, monthly instalments have been paid into the account without any default and there has been no withdrawal from the account during the said period.

NOTE,—A defaulted instalment paid with interest before the death of the depositor or surviving depositor, as the case may be, shall not be treated as a default.

(b) The age of the depositor or depositors, as the case may be, at the time of opening the account was not less than 18 years and not more than 53 years.

NOTE.—Every depositor in one account opened before the 1st July, 1972 shall give a declaration to the Post Office on plain paper indicat- ing the age at the time of the opening of the account and every depositor in an account opened on or after the said date shall make such a declaration on the application for opening the account.

(c) The legal heir or nominee, as the case may be, of the deceased de- positor has not made any claim, or has not already been given the benefit in respect of any other account under this rule or in respect of a Cumulative Time Deposit account under rule 10A of the Post Office Savings Bank (Cumulative Time Deposits) Rules, 1959, held by the same deceased depositor.

(il) If a depositor or the surviving depositor, as the case may be, has more than one account of the denomination of Rs. 5 or Rs. 10, the benefit of payment under this rule shall be available in respect of only one account which may be specified by the depositor or surviv- ing depositor, as the case may be. Such depositor may change the option and specify another account if he so desires by an application to the Post Office where the account stands registered. If no such account has been so specified by such depositor, the benefit of pay- ment shall be admissible in respect of the earliest account of the denomination of Rs. 10. if any, which qualifies for payment and if there is no such account of the denomination of Rs, 10, then in res- pect of the earliest account of the denomination of Rs. 5 which qua- lifies for payment.

(iii) The legal heir or nominee, as the case may be shall, on the death of the depositor or the surviving depositor, as the case may be, apply Jn triplicate In Form PSP-I annexed to these rules, to the Post Office where the account stands registered, not later than one year from the death of such depositor. A death certificate, or a certified copy thereof, shall be attached with the claim, The claim will be sanctioned by the Head Postmaster after verification from the Office of the National Savings Commissioner, Nagpur, that the benefit of the payment of full maturity value on death has not been previously availed of by the legal heir or nominee of the deceased depositor in respect oi any other account including a Cumulative Time Deposit account opened under the Post Office Savings Bank (Cumulative Time Deposits) Rules, 1959.";

(c) after rule 14, the following Form shall be added, namely: —

"To be filled in triplicate

FORM PSP-l

To

The Postmaster,

Subject:—Claim under the scheme of Protected Savings.

Sir,

In connection with the settlement of claim of 5-year CTD/P.O. Becurring Deposit account.

in the books

(state lull relationship) of the deceased, (place of death), hereby claim No Standing in the name of of Post Office, I/We a who died on at the full maturity value of the account under the scheme of Protected Savings.

In support of the claim, I hereby submit:

(i) A death Certificate issued by

• (iij A succession Certificate granted by

• -under No dated

• (iii) Probate of will granted by

under No dated

*(iv) Letters of Administration of the Estate of the deceased granted by under No dated....

*"(v) I/We/am/are nominees of the deceased as per nomination registered in your records.

I/We certify that I/We have not made any claim in respect of any other CTD or Recurring Deposit account standing in the name of the above deceased under the Protected Savings Scheme nor shall I/We do so in future.

•Cross out whichever is not applicable.

••In case of nominees, items. (11), (iii) & (iv) are not necessary.

Particulars of deceased account holder

(i) Full Name (ii) Son/Daughter/Wife of (iii) Last address

Particulars eff near relatives.

:S. No. Name Age Relationship Address

i.

2.

3.

4.

6.

To my/our knowledge, the deceased had the following other CTD/Recurring Deposit Accounts on which I/We shall not claim the benefit under the Protected. Savings Scheme and shall claim only the proportionate amounts payable under the C7T.D./R.D. Rules

P. O. at

,S. No.

TVp" of account

Amount No.

D e n o m i- nation

Date of opening

which

account

C T D / RD

N a me of nominee if any

account, stands.

( i)

(.3)

U)

(5)

(V i.

2.

3.

4.

Yours faithfully,

Signature (s) of claimant (s)

Address: — (i)

(ii)

Certificate by two witnesses

We hereby certify that the person who has applied for and put his signature to the application for the payment is the real claimant and the same person in •whose favour the succession certificate/probate of will/Letters of administration has been granted by the court.

1. Signature and Address

2. Signature and Address

To be filled in by the Postmaster

Certified that the particulars stated above have been checked with the Postal records and I am satisfied that the claimant (s) is/are nominee(s) /heir (s) of the deceased.

Also 'certified that the age of the account holder at the time of opening the account, as given in Application Form/Declaration given by the account holder, •was years.

•Forwarded in duplicate to the Central Registration Office, Office of the National Savings Commissioner, Post Box No. 96, Nagpur, for verification if any claim under the Protected Savings Scheme has already been registered in the name of the above deceased.

Signature of the Postmaster.

Seal of Post Office.

To be ailed in fry the Central Registration Office

^Certified that no claim has tccu previously registered in this office in respect

(deceased) account holder of CTD/ -of Shri Recurring Dep.-.sit Accounts mentionsd above, who died on at

The claim may, thus, be admitted if otherwise found in order.

Registration No

•Certified that a claim has already been registered in respect of a C.T.D./ Recurring Deposit account standing in the name of Shri deceased. The particulars are as under: — ¹CTD/RD Account No of denomination Rs opened at P. O on Name of the claimant (s)

Nominee(s)/heir(s)

Registration No dated Seal of Central Registration Office.

To

Postmaster

Signature of Officer Incharge of Central Registration Office."

B. MAITHREYAN, Jt. Secy.

* Delete whichever is not applicable.

PRINTED BY THE GENERAL MANAGER, GOVERNMENT OC INDIA PRESS. MINTO ROAD NEW UULHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS! D E ^ m, W2