Standing Order No. 3630/2021 of the Finance Department, Government of Karnataka dated 18th March, 2021 on the holding of Government bonds [C19-MZA]

Standing Order No. 3630/2021

GOVERNMENT OF KARNATAKA

Finance Department, Government of Karnataka

Bengaluru, dated the 18th March, 2021

STANDING ORDER

To

All Treasury Officers,

Subject: The holding of Government bonds by holders of a Government bond under the Karnataka Transparency in Public Procurements Act, 1999, regarding.

In exercise of the powers conferred by section 9 of the Karnataka Transparency in Public Procurements Act, 1999 (Karnataka Act 29 of 1999), the Finance Department, Government of Karnataka hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the holding of Government bonds by holders of a Government bond.

2. The matter has been examined. Every holder of a Government bond carrying on the holding of Government bonds shall make an application in Form GFR 12-A to the Directorate of Treasuries within sixty days, accompanied by a fee of ten thousand rupees.

3. The Treasury Officer shall ensure that audit report is dealt with as directed above, and shall report compliance to the Directorate of Treasuries within sixty days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Finance Department, Government of Karnataka.

(Secretary to Government)