HDBN ActCentral laws1978
The High Denomination Bank Notes (Demonetisation) Act, 1978
An Act to provide in the public interest for the demonetisation of certain high denomination bank notes and for matters connected therewith or incidental thereto.
Act No. 11 of 1978 · Ministry of Finance
- Sections
- 15
- Classified offences
- 1
Contents
- 1Short title, extent and commencement.
- 2Definitions.
- 3High denomination bank notes to cease to be legal tender.
- 4Prohibition of transfer and receipt of high denomination bank notes.
- 5Declaration of high denomination bank notes by banks and Government treasuries.
- 6Exchange of high denomination bank notes held by banks and Government treasuries.
- 7Exchange of high denomination bank notes held by other persons.
- 8Exchange of notes after the time limit specified in section 7.
- 9Closing of banks and Government treasuries.
- 10Penalties.
- 11Special provisions relating to offences.
- 12Protection of action taken in good faith.
- 13Removal of difficulties.
- 14Power to make rules.
- 15Repeal and saving.