Section Section 26
, no bank note of the denominational value of five hundred rupees, one thousand
section 26, no bank note of the denominational value of five hundred rupees, one thousand rupees O ten thousand rupees issued before the 13th day of January, 1946, shall be legal tender in payment Or on account for the amount expressed therein:] 27. Re-issue notes: The Bank shall not re-issue bank notes which are torn, defaced or excessively spoiled 28. Recovery of notes lost; stolen, mutilated or imperfect: 3 **x Notwithstanding anything contained in any enactment Or rule of law to the contrary, no person shall of right be entitled to recover from the 4[Central Government] or the Bank, the value of any lost, stolen, mutilated Or imperfect currency note of the Government of India or bank note: Provided that the Bank may, with the previous sanction of the 4[Central Government], prescribed the circumstances in and the conditions and limitations subject to which the value of such currency notes Or bank notes may be refunded as of grace and the rules made under this proviso shall be laid on the table S*** of '[Parliament]. 7*
'[28A . Issue of special bank notes and special one rupee notes in certain cases. For the purpose of controlling the circulation of bank notes without India, the Bank may, notwithstanding anything contained in any other provision of this Act, issue bank notes of such design, form and material as may be approved under sub-section (3) (hereinafter in this section referred to as special bank notes) of the denominational values of five rupees, ten rupees and one hundred rupees (2) For the purpose of controlling the circulation of Government of India one rupee notes without India, the Central Government may, notwithstanding anything contained in any other provision of this Act or in the Currency Ordinance, 1940 (Ord. 4 of 1940) issue Government of India notes of the denominational value of one rupee of such design, form and material as may be adopted under sub- section (3) (hereinafter in this section referred to as special one rupee notes) (3) The design, form and material of the special bank notes shall be such as may be approved by the Central Government after consideration of the recommendations made by the Governor and of the special one rupee notes shall be such as the Central Government may think fit to adopt. Neither the special bank notes not the special one rupee notes shall be legal tender in India. 5) The special one rupee note shall be deemed to be included in the expression rupee coin" for all the purposes of this Act except
Roop's Law Assist