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REGISTERED No. D-(D)-72

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 328] NEW DELHI, MONDAY, NOVEMBER 24, 1975/AGRAHAYANA 3, 1897

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)

NOTIFICATION

New Delhi, the 24th November 1975

No. F.4(2)-W&M./75—Subscriptions for the issue of 61/2 per cent. Loan, 1996 will be received from the 1st December, 1975 in the form of cash. The issue will be closed without notice as soon as it appears that the total subscriptions amount approximately to Rs. 200 croies (Nominal) and in any case not later than the close of business on the 3rd December, 1975. Government reserve the right to retain subscriptions received upto 10 per cent, in excess of the sum of Rs. 200 crores.

2. If the total subscriptions to the aforesaid, loan exceed the sum of Rs. 220 crores (Nominal), partial allotment will be made in respect of the loan on a proportionate basis. If partial allotment is made, the excess subscriptions will be refunded as soon as possible after allotment. No interest will be paid on the amounts so refunded.

3. 6J per cent, Loan, 1996 issued at Rs. 100.00 per cent, and redeemable at par on the 1st December, 1996—

(i) Date of repayment.—The Loun will be repaid at par on the 1st December, 1996. (ii) Issue Price.—The issue price will be Rs. 100 for every Rs. 100.00 (Nominal) of

the Loan applied for.

(iii) Interest.—The Loan will bear interest at the rate of 61/4 per cent, per annum from 1st December, 1975. Interest will be paid half yearly on 1st June

(1489 )

and 1st December, fho interest paid v.;li. subject to the provisions ot paragraphs 5 and 6 below, be liable to tax under Oie income-tax Act, iJ*ol.

SUPPLEMhNlARY PROVISIONS

4. Place *E payment of Interest.—Interest on the loan will be paid at the Public Debt Offices of tli* Kcscrve Bank, of India ut Arimedabad, Bangalore, bomoay, Calcutta, Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi and Patna, ai any ireasury or Sub-treasury elsewhere in India except the State of Jammu &. Kashmir, and at the Central Government's Pay and Accounts Othces at Jammu and Snnagar.j

5. Refunds oi tax deduaed at the time of payment of interest (at the rates prescribed by the annual Finance Acts) will be obtainable by holders of the loan who are not liable to tax or who are liable to tax at rates lower than the rate at which tax was deducted.

A holder who is not liable to tax or who is liable to tax at a rate lower than the pres- cribed rate, can obtain on application, a certificate from the income-tax Otiicer ot the district, authorising payment of inLerest to him without deduction of tux or with deduction of tax at such lower rate as may be applicable to the holder.

6. Interest on the loan now issued together with interest on other previous Govern- ment securities and income from other approved investments will be exempt from income- tax subject to a limit of Rs. 3,000 per annum and subject to the other provisions ot section SOL of the Income-tax Act, 1961.

7. The value of investments in the loan now issued together with the value of other previous investments in Government securities and the other investments specified in Section 5 of the Wealth Tax Act will also be exempt from the Wealth Tux upto Rs. 1,50,000.

8. The securities will be issued in the form of—

(i) Stock, the applicants for which will be given Stock Certificate-, or

(ii) Promissory Notes.

If no preference is stated by the applicants, the securities will be issued in the form of Promissory Notes.

9. Applications for the loon.—Applications for the loan must be for Rs. 100 or a multiple of that sum.

10. Applications will be received at—

(a) Offices of the Reserve Bank of India at Ahmedabad, Bangalore, Bombay (Fort and Bycullai), Calcutta, Hyderabad, Kanpur, Madras, Nagpur, New Delhi and Patna;

(b) Branches of the subsidiary banks of the State Bank of India conducting Gov- ernment treasury work except at Hyderabad; and

(C) Branches of the States Bank of India at other places in India.

11. Applications may be in the form attached hereto or in any other form which states clearly the amount and description of the securities required, the full name and address of the applicant and the office at which ho desires the interest to be paid,

12. Applications should be accompanied by the necessary payment in the form of cash or cheque. Cheques tendered at the office of the Reserve Bank of India, the State Bank of India or its subsidiary bunks should be draw™ in favour of the bank concerned.

13. Brokerage will be paid at the rate of 6 paise per Rs. 100 (Nominal) to recognised banks and brokers on allotments made in respect of applications for lhe Joan tendered by them and bearing their stamp.

The claim for payment of brokerage should be preferred at the paying offices within six months from the date of floatation of the loan.

By order of the President,

K. N. ROW, Jt. Secy.

FOKM OF APPLICATION

I/We

[Full Name(s) in Block Capital letters]

tcVdVri"r- cVsh '^:::;;:;;;;;;;;;;;;;;;;;;;;;;;';;>-f ciWw for"^::::;;;-;h c r c w i th £ ••-••••-•• and request thttt securities of the 6J per cent Loan 1996 of the nominal' 'value of s - . . . . . . . . . . . . . . . . ..

ma be issu=d to me/us in the form ofProm.sSoryNoteCs)tt/Stock Certificate of the denominations Stated below :-

Promissory Notes of Rs

each Promissory Notes of Rs Promissory Notes of Rs

each each 2. I/We desire that interest be paid at

N.B.—The applicant should not write anything in this Cage. The entries will be filled in by the Public Debt Office.

Signature

Name in full

Initials Date

Application No _. „ „

Profession :—Service/Trading/Agriculturist/ BUstn.eSS/MOney Lender Independent Profession/ N-B. Stamp

o t h e rs

Cash received

Cheque realised Credited to Special Cur-

rent Account

Examined

(Please specify)

Cash Applications Re-

gister posted

(Delete itemsnot applicable)

Brokerage Register posted Address

Indent No

Scrip No

Card No

Voucher passed on

Dated December, 1975.

NOTE.—(1) Separate application should be> made for each form of scrip (Stock Certi- ficate or Promissory Note) of the new Loan required.

(2) If the applicant s signature is by thumb mark, it should be witnessed by two persons. The full names, occupations and addresses of the witnesses should be appended to their signatures.

(3) If the application is made in the name of a resisteicd body, the undernoted documents, if not already registered at the Public Debt Office, should be enclosed with the investment application;

(i) Certificate of Registration/Incorporation.

(ii) Memorandum and Articles of Association or a certified copy of the Rules and Regulations/Bye-Id.w<> of the body/company.

(iii) Certified copy of resolution in favour of the person authorised to deal in Government securities on behalf of the body/company.

(4) Applicants desiring the issue of scrips in the form of Stock Certificates should also complete a Mandate form (obtainable from Public Debt Office) for transmission of half-yearly interest to them.

•Delete what is not required.

fFigures and words to bo written here.

ttPromissory Notes will be issued in denominations of Rs. 100, Rs. 500, Rs. 1,000, Rs. 5,000, Rs, 10,000, Rs. 25,000, Rs. 50,000 and Rs. 1,00,000. State here the parti- cular denomination required.

PRINWD BY TH* GENERAL MANAGER, GOVERHMKNT OF INDIA WttSS, MINTO ROAD, NEW tXiMl AND PUBLISHKO BY THI CONTROLLKR OT PUBLICATIOHS, DELHI, 1 9 70