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The Government Savings Promotion Act, 1873

Deposits belonging to lunatics

12. Payment of deposits belonging to lunatics.-

If any depositor becomes insane or otherwise incapable of managing his affairs, and if such insanity or incapacity is proved to the satisfaction of the 1[Authorised Officer] of the 2[Government Savings Bank] in which his deposit may be, such 1[Authorised Officer] may, from time to time, make payments out of the deposit to 3[guardian], and the receipt of 4[such guardian], for money paid under this section, shall be a sufficient discharge therefor, Where a committee or manager of the depositor's estate has been duly appointed, 5[payments shall be be made to] such committee or manager.

1. Subs. by Act 13 of 2018, s. 116, for "Secretary" (w.e.f. 1-4-2018).

2. Subs. by s. 127, ibid., for "Bank" (w.e.f. 1-4-2018).

3. Subs. by s. 127, ibid., for "any proper person" (w.e.f. 1-4-2018).

4. Subs. by s. 127, ibid., for "such person" (w.e.f. 1-4-2018).

5. Subs. by s. 127, ibid., for "nothing in this section authorises payments to any person other than" (w.e.f. 1-4-2018).

6[12A. Operation of account by differently abled persons.-

Any depositor who suffers from physical infirmity, including blindness may operate and make a deposit through any literate individual whom he authorises.] 7***

6. Ins. by s. 128, ibid. (w.e.f. 1-4-2018).

7. The heading "Deposits made by married women" omitted by s. 129, ibid. (w.e.f. 1-4-2018).



Government Savings Promotion Act, 1873 Back




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