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Government Securities Act 2006

2. Definitions. -

In this Act, unless the context otherwise requires,-

a.   "agent" means a scheduled bank within the meaning of clause (e) of section 2 of the Reserve Bank of India Act, 1934, or any other person specified as such;

b.   "Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934;

c.   "bond ledger account" means an account with the Bank or an agent in which the Government securities are held in a dematerialised form at the credit of the holder;

d.   "constituents' subsidiary general ledger account" means a subsidiary general ledger account opened and maintained with the Bank by an agent on behalf of the constituents of such agent;

e.   "Government", in relation to any Government security, means the Central or State Government issuing the security;

f.   "Government security" means a security created and issued by the Government for the purpose of raising a public loan or for any other purpose as may be notified by the Government in the Official Gazette and having one of the forms mentioned in section 3;

g.   "prescribed" means prescribed by regulations made under this Act;

h.   "promissory note" includes a treasury bill;

i.   "specified" means specified by the Bank in the Official Gazette.

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