OGS Rules 15

Section 15 · Indemnity bonds

(1)

Indemnity bonds-

(a)

when executed under Sub-rule (2) (a) of Rule 13 shall be for twice the amount of the interest involved, that is to say, twice the amount of all back interest accrued due on the note plus twice the amount of all interest to accrue due thereon during the period which will have to elapse before the issue of a duplicate note can be made; and

(b)

in all other cases shall be for twice the face value of the note plus twice the amount of interest calculated in accordance with Clause (a).

(2)

The Bank may direct that such indemnity bond shall be executed by the applicant alone or by the applicant and one or two sureties as it may think fit, or that in lieu of furnishing personal sureties the applicant shall furnish-collateral security in the shape of Government securities including those issued by the Central Government to be deposited with the office of the Bank at Calcutta for such amount and period as it may think fit.

(b)

Rules relating to Treasury Bills

Your private note on this section

Only you can see this note.