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Electoral Bond is a bearer instrument in the nature of a Promissory Note.
The bearer instrument will not carry the name of the payee and can be bought for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh or Rs 1 crore, he said in a statement in the Lok Sabha.
On the features of the instrument, Jaitley said that this simple product would be a bearer instrument without name of the holder in the first phase.
In the meantime, he or she might want to safeguard it well as the winning ticket is considered a "bearer instrument,'' meaning whoever has possession of it is entitled to the jackpot.
The key to this evidentiary shortcut, this indifference to who actually owns the loan, is the idea that, under Article 3, mere possession, even wrongful possession, of a bearer instrument confers an unassailable right of enforcement.
A corporation can remove the barrier by listing its stock as a bearer instrument on foreign exchanges.
Gold is both a commodity and a de facto bearer instrument. The form of gold can be readily altered.
Replying to a question he said that public office holder, Public Limited Companies, Bearer Instruments, Gold, and Diamonds cannot be declared.
What the law requires * Anyone entering or leaving the UAE carrying cash, monetary or nancial bearer instruments, precious metals or precious stones needs to declare it as per regulations set out by the UAE Central Bank.
An important example is the introduction of the bearer instruments in mid 1980s and early 1990s.
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