Specified Bank Notes (Cessation of Liabilities) Act, 2017 Notified; Read the Salient Features [Read the Full Text]

The Central Government has notified the Specified Bank Notes (Cessation of Liabilities) Act, 2017 repealing the ordinance in that regard.The Act is to provide in the public interest for the cessation of liabilities on the specified bank notes. Following are the salient features of the Act. Section 5 of the Act bars any person from knowingly or voluntarily, holding, transferring or receiving...