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CHAPTER IX BORROWING

Section 189: Receipt by joint holders for interest or dividend

The Delhi Municipal Corporation Act, 1957

How current this text is

Text as published by India Code (Legislative Department, Ministry of Law and Justice), as on 15 May 2026, with amendments up to the Jan Vishwas (Amendment of Provisions) Act, 2026 (8 of 2026).

When two or more persons are joint holders of any debenture or security issued under this Act, any one of such persons may give an effectual receipt for any interest or dividend payable in respect of such debenture or security, unless notice to the contrary has been given to 1[2[the Corporation]] by the other of such persons.

Footnotes in the official text

  1. 1.Subs. by Delhi Act 12 of 2011, s. 2, for “Central Government” (w.e.f. 13-1-2012).
  2. 2.Subs. by Act 10 of 2022, s. 2, for “Government” (w.e.f. 13-1-2012).