THE HIGH DENOMINATION BANK NOTES (DEMONETISATION) ACT, 1978

ACT NO. 11 OF 1978 · Enacted [30th March, 1978.] · 15 sections

Section 1.Short title, extent and commencement.

Section 2.Definitions.

Section 3.High denomination bank notes to cease to be legal tender.

Section 4.Prohibition of transfer and receipt of high denomination bank notes.

Section 5.Declaration of high denomination bank notes by banks and Government treasuries.

Section 6.Exchange of high denomination bank notes held by banks and Government treasuries.

Section 7.Exchange of high denomination bank notes held by other persons.

Section 8.Exchange of notes after the time limit specified in section 7.

Section 9.Closing of banks and Government treasuries.

Section 10.Penalties.

Section 11.Special provisions relating to offences.

Section 12.Protection of action taken in good faith.

Section 13.Removal of difficulties.

Section 14.Power to make rules.

Section 15.Repeal and saving.