| The Government Securities Act, 2006 | |
|---|---|
| Parliament of India | |
| |
| Citation | Act No. 38 of 2006 |
| Territorial extent | Whole ofIndia |
| Enacted by | Parliament of India |
| Enacted | 30 August 2006 |
| Commenced | 1 December 2007 |
| Related legislation | |
| Public Debt Act, 1944; Government Securities Regulations, 2007 | |
| Status: In force | |
TheGovernment Securities Act, 2006 is a legislation of theParliament of India, which aims to introduce various improvements in thegovernment securities market and the management of government securities by theReserve Bank of India (RBI).[1]
The Public Debt Act, 1944 was anact of theParliament of India which provided a legal framework for the issuance and servicing ofgovernment securities in India. It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.[2] The Act oversees government securities and their management by the RBI.[3] The second clause of Section 2 defines government securities as securities issued by the central or a state government for the purpose of raising apublic loan.[4]
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