Post Office National Savings Certificates Ordinance, 1944

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THE POST OFFICE NATIONAL SAVINGS CERTIFICATES 
ORDINANCE, 1944 
 
              
  
 
 
 
CONTENTS 
1.  Short title, application and commencement 
2.  Interpretation 
3.  Restriction of transfer 
4.  Payment on death of holder of savings certificate 
5.  Holdings by or on behalf of minors 
6.  Rules 
 
 
 
 

 
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THE POST OFFICE NATIONAL SAVINGS CERTIFICATES ORDINANCE, 
1944 
 
1ORDINANCE NO. XLII OF 1944 
 
[9th September, 1944] 
 
An Ordinance to make certain provision in respect of Post Office Twelve-Year National Savings 
Certificates and other classes of Savings Certificates. 
 
 WHEREAS an emergency has arisen which renders it necessary to make certain provision in 
respect of Post Office Twelve -Year National Savings Certificates and other classes of Savings 
Certificates; 
 
 NOW, THEREFORE, in exercise of the powers conferred by section 72 of the Government 
of India Act, as set out in the Ninth Schedule to the Government of India Act, 1935 (26 Geo. 5,c.2.), 
the Governor-General is pleased to make and promulgate the following Ordinance:-  
 
 1. Short title, application and commencement.—(1) This Ordinance may be called the Post 
Office National Savings Certificates Ordinance, 1944. 
 
 (2) It applies to— 
 
(a) Post Office Twelve-Year National Savings Certificates issued in pursuance of 
the Notification of the Government of India in the Finance Department, No. F. 
17(100)-F/43, dated the 4th September, 1943, and 
 
(b) any 2other classes of savings certificates to which the 3[Federal Government] 
may from time to time by noti fication in the of ficial Gazette direct that the 
provisions of this Ordinance shall apply. 
 
 (3) It shall come into force at once. 
 
 2. Interpretation.—In this Ordinance— 
 
(a) “minor” means a person who is not deemed to have attained his majority 
under the Majority Act, 1875 (IX of 1875); 
 
(b) “savings certificate ” includes a Post Office Twelve -Year National Savings 
Certificate referred to in clause (a) of sub -section (2) of section 1 and a 
savings certificate of any other class to which the provisions of this Ordinance 
have been applied by a direction in pursuance of clause (b) of that sub-section; 
 
 1The Ordinance has been applied to__  
  (i)  Baluchistan, see Notification No. 52-W., dated the 11th October, 1944, Gazette of India, 1944, Pt. I, p. 1326; 
   It has been extended to__  
(a)  Leased Areas of Baluchistan by the Leased Areas (Laws) Order, 1950 (G. G. O. 3 of 1950).  
(b)  the Baluchistan States Union by the Baluchistan States Union (Federal Laws) (Extension) Order, 1953 (G. 
 G. O., 4 of 1953), as amended ; and  
(c)  the Khairpur State by the Khairpur (Federal Laws) (Extension) Order, 1953 (G. G.O. 5 of 1953), as 
 amended. 
 The Act has been and shall be deemed to have been brought into force in Gwadur with effect from the 8th 
 September, 1958, by the Gwadur (Application of Central Laws) Ordinance, 1960 (37 of 1960), s. 2. 
 
 2The Provision of this Ordinance have been applied to the Pakistan Post Office Twelve -year Savings Certificates and to the Pakistan 
 Defence Savings Certificates, see Gaz. of P. 1948, Pt. I, p. 60 1; the Pakistan Post Office Ten -Years Savings Certificates and Pakistan Post 
 Office Five-Years Saving Certificates, see ibid., 1953, Pt. I, p. 235; and the Ten -Years National Development Certificates, see ibid., 1957, 
 Ext. p. 2215. 
 3Subs. by the Federal Adaptation of Laws Order, 1975 (P. O. No. of 1975), Art. 2 and Table.  
 
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(c) “transfer” means a transfer inter vivos  and does not include a transfer by 
operation of law. 
 
 3. Restriction of transfer. —Notwithstanding any provision in any enactment or any rul e of 
law for the time being in force to the contrary, no transfer, whether made before or after the 
commencement of this Ordinance or, as the case may be, before or after the making of a direction in 
pursuance of clause (b) of sub-section (2) of section I , of a savings certificate shall be valid without 
the previous consent in writing of an officer of the Post Office authorised by general or special order 
of the 1[Federal Government] in that behalf. 
 
 4. Payment on death of  holder of savings certificate .—(1) If a person dies and is at the 
time of his death the holder of a savings certificate, payment of the sum for the time being due 
thereon may be made in the manner provided in the Government Savings Banks Act, 1873  (V of 
1873), for the payment of deposits  belonging to the estates of deceased person, and the provisions of 
sections 4 to 9 of the said Act shall apply accordingly as if the holder of the savings certificate were a 
depositor in a Government Savings Bank and the sum for the time being due on the certificate were a 
deposit in such a Bank: 
 
 Provided that in such application section 8 of the said Act shall be construed as if the 
reference therein to three thousand rupees were a reference to the amount of the maximum holding of 
savings certificates prescribed in the rules made or deemed to have been made under this Ordinance 
applicable to the particular savings certificate;  
 
 Provided further that— 
 
(a)  the powers conferred by the said provisions on the Secretary of a Government 
Savings Banks shal l be exercisable by the Postmaster -General for the area 
within which the post office of issue of such savings certificate is situate 2[or if 
that area is in India, by the Postmaster-General for such area in Pakistan as the 
1[Federal Government] may by a ge neral or special order specify in this 
behalf]. 
 
(b)  where in any one case payment is to be made of savings certificates issued 
from more post offices than one, the said powers shall be exercisable by the 
Postmaster-General for the area in which any of the said post offices is situate. 
 
 (2) Nothing in sub-section (1) shall be deemed to require any person to accept payment of the 
amount due on a savings certificate before it has reached maturity. 
 
 5. Holdings by or on behalf of minors. —Notwithstanding any provision in any enactment 
or any rule of law for the time being in force to the contrary,— 
 
 (1) a minor may apply for and hold savings certificates and any person may apply for and 
hold savings certificates on behalf of a minor; 
 
 
 
 
1Subs. by the Federal Adaptation of Laws Order, 1975 (P. O. No. of 1975), Art.2 and Table. 
2Ins, by A. O., 1949.  
 
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 (2) where any certificate is held by or on behalf of a minor, the minor shall, whether the 
certificate was applied for and issued before or after the commencem ent of this Ordinance or, as the 
case may be, before or after the making of a direction in respect of such certificate in pursuance of 
clause (b) of sub-section (2) of section 1, be bound by the provisions of this Ordinance and of any 
rules made or deemed to have been made thereunder applicable to such savings certificate and by the 
terms of any declaration made by the applicant for the certificate in pursuance of the said rules; 
 
 (3) payment of the sum for the time being due on a savings certificate held  by or on behalf of 
a minor may be made— 
 
(a) to him personally, if he himself applied, for the certificate, or 
 
(b) for the use of the minor, if the application for the certificate was made by any 
person other than the minor,__ 
 
(i)  to any such person, b eing a parent of the minor or guardian of his 
property, as may be nominated in that behalf in the form of application, 
or 
 
(ii)  if no such nomination has been made, to any guardian of the property 
of the minor appoint ed by a competent Court, or where no such 
guardian has been so appointed, to either parent of the minor, or where 
neither parent is alive, to any other guardian of the minor,__ 
 
 and the receipt of the minor or, as the case may be, of his parent or guardian for any sum paid 
under this clause shall be a sufficient discharge therefore. 
 
 6. Rules.—(1) The 1[Federal Government] may by notification in the official Gazette make 
rules relating to any class of savings certificate. 
 
 (2) In particular and without prejudice to the generality of the fo regoing power, such rules 
may provide for  the application for, the issue , maximum limits of holding and discharge of, and 
conditions as to interest or discount relating to, any class of savings cer tificate, and may also 
provide__ 
 
(a) that where any such m aximum limits of holdings are exceeded, no interest 
shall be payable on the amount of such excess; 
(b) that if any interest has been paid on any amount of such excess, it shall be  
recoverable as an arrear of land -revenue or in such other manner as the rul es 
may prescribe. 
 
 (3) All rules relating to__ 
 
(a) the Post Office Twelve -Year National Savings Certi ficates in force at the 
commencement of this Ordinance, 
 
(b) any other class of savings certificate in force at the time when a direction in 
pursuance o f clause (b) of sub section (2) of secti on 1 is made in respect 
thereof__ 
 
 shall, so far as they are not inconsistent with the provisions of this Ordinance, continue in 
force until they are duly rescinded or amended, and shall be deemed to have been made under this 
Ordinance. 
41544    Date: 11-02-2025 
________________________________________________________________________________ 
1Subs. by the Federal Adaptation of Laws Order, 1975 (President’s Order No. 4 of 1975), Art.2 and Table.