#THE SCHEDULED SECURITIES (HYDERABAD) ACT, 1949 
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##ARRANGEMENT OF SECTIONS 
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SECTIONS 

1. Short title. 
2. Definitions. 
3. Title to scheduled security not affected by previous transfers. 
4. Issue of duplicate securities. 
5. Bar of jurisdiction. 
6. Protection of action taken in good faith. 
7. Repeal of Ordinance XXXVII of 1948. 
THE SCHEDULE. 
 
 
 
#THE SCHEDULED SECURITIES (HYDERABAD) ACT, 1949 

##ACT NO. 7 OF 1949

[16th February, 1949.] 

An Act to provide for the control of the transfer of certain securities and for the issue of duplicate securities 
in respect thereof 

WHEREAS it is expedient to provide for the control of the transfer of certain securities and for the issue 
of duplicate securities in respect thereof; 

It is hereby enacted as follows: — 

1. **Short title.** — This Act may be called the Scheduled Securities (Hyderabad) Act,1949. 

2. **Definitions.** — In this Act, — 

  (i) “Bank” means the Reserve Bank of India; 

  (ii) “scheduled security” means any Government security, specified in the Schedule to this Act, but 
does not include any duplicate security issued under the provisions of section 4; 

  (iii) “transfer”, in relation to a scheduled security, includes the transfer of any interest in the scheduled 
security. 

3. **Title to scheduled security not affected by previous transfers.**—The  Bank  shall not,  without  the 
approval in writing of the Central Government, recognize for any purpose any transfer of a scheduled security 
otherwise than to the Government of Hyderabad made or purported to have been made before the 31st day of 
December,  1948,  and  notwithstanding  any  transfer  so  made  or  purported  to  have  been  so  made  and 
notwithstanding anything contained in any law for the time being in force, the scheduled security shall be 
deemed to be, and always to have been, vested in the Government of Hyderabad. 

4. **Issue of duplicate securities.**—(1) Notwithstanding anything contained in any law for the time being 
in force, the Bank shall issue to the Government of Hyderabad duplicate securities payable to that Government 
in lieu of the scheduled securities as if such securities had been lost, and such duplicate securities shall have 
the same effect as if they had been issued under section 11 of the Public Debt (Central Government) Act, 1944 
(XVIII of 1944). 

(2) On the issue of duplicate securities under sub-section (1), all rights of remedies vested in or enforceable 
by any person in respect of the scheduled securities, in lieu of which such duplicate securities have been issued, 
shall be deemed to be extinguished. 

(3)  The Bank shall impound all scheduled securities which are or have been presented to it and cancel the 
same. 

5. **Bar of jurisdiction.** — No suit or other legal proceeding for the enforcement of any rights or remedies 
in respect of any scheduled security shall be instituted in any Court save with the previous consent of the 
Central Government. 

6. **Protection of action taken in good faith.** — No suit, prosecution or other legal proceeding shall lie 
against the Central Government, the Bank or any person for anything done or intended to be done in good faith 
in pursuance of the provisions of this Act. 

7. **Repeal of Ordinance XXXVII of 1948.** — (1) The Scheduled Securities (Hyderabad) Ordinances, 
1948 (XXXVII of 1948), is hereby repealed. 

(2) Notwithstanding such repeal, anything done or any action taken in exercise of any power conferred 
by or under the said Ordinance shall be deemed to have been done or taken in exercise of the powers conferred 
by or under this Act, as if this Act had commenced on the 31st day of December,1948. 

 
 
                                                      

##THE SCHEDULE 

[See section 2(ii)] 

**SCHEDULED  SECURITIES**

Serial                               Denomination, form and number of Security                    Amount 
No. 

1.     3%  Funding Loan,  1966—68—                                                                   Rs. 

     Stock Certificate   Nos.   BY   0021-3    (3 X 50,00,000)                       1,50,00,000 
               Do.              No.     BY   0034                                                           50,00,000 
               Do.              Nos.    BY   0087-93  (7 X 50,00,000)                      3,50,00,000 
               Do.              Nos.    BY   0095-99  (5 X 50,00,000)                      2,50,00,000 
               Do.              No.      BY   0158                                                          50,00,000 
               Do.              No.      BY   0137                                                          30,00,000 
               Do.              Nos.    BY   0125-6   (2 X 10,00,000)                          20,00,000 
               Do.              No.      BY   0148                                                          25,00,000 
               Do.              Nos.     BY   0160-2   (3 X 25,00,000)                          75,00,000 

2.     3%  First Development Loan,1970—75— 

      Stock Certificate  Nos.  BY  1084-92     ( 9 X 5,00,000)                           45,00,000 
              Do.              Nos.   BY  1185-95     (11 X 5,00,000)                         55,00,000 
              Do.              Nos.   BY   0754-73    (20 X 5,00,000)                       1,00,00,000 
              Do.              Nos.   BY   0892-4      (3 X 5,00,000)                            15,00,000 
              Do.              Nos.   BY   0895-906  (12 X 5,00,000)                          60,00,000 
              Do.              Nos.   BY   1072-7      ( 6 X 5,00,000)                           30,00,000 
              Do.              Nos.   BY   1214-21    (8 X 5,00,000)                            40,00,000 
              Do.              Nos.   BY   1236-9      (4 X 5,00,000)                            20,00,000 
              Do.              Nos.   BY   1246-53    (8 X 5,00,000)                            40,00,000 
              Do.              Nos.   BY   1283-91    (9 X 5,00,000)                            45,00,000 
              Do.              No.     BY   1339                                                               5,00,000 
              Do.              Nos.   BY   1364-7      (4 X 5,00,000)                            20,00,000 
              Do.              Nos.   BY   1393-4      (2 X 5,00,000)                           10 ,00,000 
              Do.              Nos.   BY   1396-402  (7 X 5,00,000)                           35,00,000 
              Do.              Nos.   BY   1419-21    (3 X 5,00,000)                           15,00,000 
              Do.              Nos.   BY   1433-40    (8 X 5,00,000)                           40,00,000 
              Do.              Nos.   BY   1442-5      (4 X 5,00,000)                           20,00,000 
              Do.              Nos.   BY   1467-9      (3 X 5,00,000)                           15,00,000 
              Do.              Nos.   BY   1477-81    (5 X 5,00,000)                           25,00,000 
              Do.              Nos.   BY   1503-4       (2X 5,00,000)                           10,00,000 
              Do.              No.    BY    1506                                                              5,00,000 
              Do.              Nos.   BY   1508-59   (52 X 5,00,000)                       2,60,00,000 
              Do.              Nos.   BY   1568-78   (11 X 5,00,000)                          55,00,000 
              Do.              Nos.   BY   1581-5     (5 X 5,00,000)                            25,00,000 
              Do.              No.    BY   1593                                                               5,00,000 
              Do.              No.    BY   1245                                                               2,00,000 
              Do.              No.    BY   1213                                                               3,00,000 
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                                                                                           Total              20,00,00,000 
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