Reserve Bank of India (Amendment) Act, 1946
[Act 23 of 1946][10th November, 1946]

An Act further to amend the Reserve Bank of India Act, 1934.

WHEREAS it is expedient further to amend the Reserve Bank of India Act, 1934 (11 of 1934), for the purposes hereinafter appearing;

It is hereby enacted as follows:—

1. Short Title.—This Act may be called the Reserve Bank of India (Amendment) Act, 1946.

2. Amendment of ## Section 31, As of 1934.—Section 31 of the Reserve Bank, of India Act, 1934, shall be renumbered as sub-section (1) of that section and to the section as so renumbered the following sub-section shall be added, namely?—

“(2) Notwithstanding anything contained in the of Negotiable Instruments Act, 1981 (XXVI 1981), no person in India other than the Bank or, as expressly authorised by this Act, the Central Government shall make or issue any promissory note expressed to be payable to the hearer of the instrument.”

3. Repeal of Ors. XVII of 1946.— The Bearer Promissory Notes (Prohibition of Repeal of Issue) Ordinance, 1946, is hereby repealed.

Price anna 1 or 1½d.