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Report No. 82

4.5. Government Savings Bank Act.-

Then, the Government Savings Bank Act,1 provides that notwithstanding anything contained in any law for the time being in force, or in any disposition, whether testamentary or otherwise, by a depositor in respect of his deposit, where any nomination made in the prescribed manner purports to confer on any person the right to receive the deposit on death of the depositor, the nominee shall, on the death of the deposit become entitled to the exclusion of all other persons, to the account deposited.

1. The Government Savings Bank Act, 1873.

Effect of Nomination under Section 39 of the Insurance Act, 1938 Back

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