Section 19
of Currency and Monetary Order, 2004 ( Formerly Known as Currency Act )
ORDERIn forceProvision 20 of 36
Section 19
(1)
No person shall be entitled to recover from the Authority the value of any lost, stolen, mutilated or imperfect currency note or coin.
(2)
The circumstances and conditions under which such value may be refunded as of grace shall be within the absolute discretion of the Authority.
(3)
Mutilated currency notes or coins, or currency notes or coins that have been illegally dealt with, shall be repossessed by any officer of the Authority or other person, authorised by the Authority, in writing in that behalf when tendered to the Authority or to such other person, as the case may be.
Demonetisation of currency notes and coins.