Section 214 of Finance Act 2018 : Amendment of section 5

By | April 1, 2018
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(Last Updated On: April 24, 2018)

Section 214 of Finance Act 2018

[Section 214 of Finance Act 2018 deals with Amendment of section 5 and is covered in CHAPTER VIII MISCELLANEOUS]

Amendment of section 5

214 . In section 5 of the principal Act,—

(a)for sub-section (3), the following sub-section shall be substituted, namely:—
“(3) Notwithstanding anything contained in sub-section (1), the Reserve Bank may subscribe to the primary issues of Central Government Securities due to ground or grounds specified in the proviso to sub-section (2) of section 4.”;
(b)in sub-section (4), after the words “secondary market”, the words “or converts Central Government Securities held by it with other Securities of the Central Government as mutually agreed between the Reserve Bank and the Central Government” shall be inserted.

Finance Act 2018 : Assented by President : Download Print Notification

 

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