All
Scheduled Banks/NBFI's
Dear
Sirs,
Amendments
in Foreign Exchange Bearer Certificates
Rules 1985 & Three Years Foreign Currency Bearer
Certificates Rules 1997
The
Federal Government vide its Notifications dated 28th September
2002 (copies enclosed) has omitted Rule 8 A of Foreign Exchange
Bearer Certificates 1985 & Rule 11 of Three Years Foreign
Currency Bearer Certificates Rules 1997, which read as under:-
Rule
8 A
(FEBC Rules 1985)
“No Claim of any nature will be entertained in case
any certificates lost, stolen, destroyed, mutilated or burnt.”
Rule 11
(3 Year FCBC Rules 1997)
“No Claim of any nature whatsoever shall be entertained
in respect of certificate lost, stolen, destroyed mutilated
or burnt.”
After
omission of the above Rules, the holders of Foreign Exchange
Bearer Certificates and Foreign Currency bearer Certificates
of 3 years tenor shall be able to lodge a claim for issuance
of duplicate certificates in lieu of lost, stolen, destroyed,
mutilated or burnt certificates as per procedure specified
in Public Debt Act 1944 & Public Debt Rules 1946.
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