Amendment in Rule 9 of National Small Savings Fund (Custody and Investment) Amendment Rules, 2011, Notification Issued on 25-11-2011

In exercise of the powers conferred by clause (1) of article 283 of the Constitution, the President hereby makes the following further amendments in the National Small Savings Fund (Custody and Investment) Rules, 2001, namely:-

1. (1) These rules may be called the National Small Savings Fund (Custody and Investment) Amendment Rules, 2011.

(2) They shall come into force on the 1st day of December 2011.

2. In the National Small Savings Fund (Custody and Investment) Rules, 2001, in rule 9,-

(a)  In sub-rule (1),-

(i) after the words “State Government Securities”, the words “or in any other instrument” shall be inserted;

(ii) proviso shall be omitted;

(b)  For sub-rule (10), the following shall be substituted, namely:-

“(10) The amount received on maturity of the investments shall be invested in the Central Government and State Government securities. Such securities shall be issued in accordance with the provision contained in sub-rule (3). Suitable accounting entries as mentioned in sub-rule (5) and sub-rule (6) shall be made by the Chief Controller of Accounts, Ministry of Finance”.

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