Bonds, debentures or oher securities issued on loans under Act Xlof — THE INDIAN STAMP ACT, 1899 (2 of 1899)

8. Bonds, debentures or oher securities issued on loans under Act Xlof this Act, any local authority raising a loan 8. Bonds, debentures or oher securities issued on loans under Act Xlof 1879.—(1) Notwithstanding anything in this Act, any local authority raising a loan rovisions of the Local Authorities Loans Act, 1879 (11 of 1879) or of any 1879.—(1) Notwithstanding anything in this Act, any local authority raising a under the provisions of the Local Authorities Loans Act, 1879 (11 of 1879) or of any being in force, by the issue of bonds, debentures or other under the provisions of the Local Authorities Loans Act, 1879 (11 of 1879) or of ~ other law for the time being in force, by the issue of bonds, debentures or other shall, in respect of such loan, be chargeable with a duty of one percentum other law for the time being in force, by the issue of securities, shall, in respect of such loan, be chargeable with a duty of one percentum amount of the bonds, debentures or other securities issued by it, and securities, shall, in respect of such loan, be chargeable with a duty on the total amount of the bonds, debentures or other securities issued by it, and stamped, and shall not be on the total amount of the bonds such bonds, debentures or other securities need not be stamped, and shall not be further duty on renewal, consolidation, sub-division or otherwise. such bonds, debentures or other securities need not be stamped, chargeable with any further duty on renewal, consolidation, sub-division or otherwise. mpting certain bonds, debentures or eable with any further duty (2) The provisions of sub-section (1) exempting certain bonds, debentures or tamped and from being chargeable with certain further (2) The provisions of sub-section (1) exempting certain bonds, debentures other securities from being stamped and from being chargeable with certain further duty shall apply to the bonds, debentures or other securities of all outstanding loans other securities from being stamped and from being chargeable with certain furthe duty shall apply to the bonds, debentures or other securities of all outstanding loans and all such bonds, debentures or other securities duty shall apply to the bonds, debentures or other securitie of the kind mentioned therein, and all such bonds, debentures or other securities are stamped or not: of the kind mentioned shall be valid, whether the same are stamped or not: Provided that nothing herein contained shall exempt the local authority which ures or other securities from the dwty chargeable in Provided that nothing herein contained shall exempt the local authori has issued such bonds, debentures or other securities from the dwty chargeable in the twenty-sixth day of March, 1897, when such duty has not has issued such bonds, debentures or other securities from the respect thereof prior to the twenty-sixth day of March, 1897, when such duty has not by order issued by the Central Government. respect thereof prior to the twenty-sixth already been paid or remitted by order issued by the Central Government. his sec the first month duri

Section 8