 8ui no 1 of; ie tile legal tender (inscrmed notes) bill, 1964 a billeo re,trict the negotiability of currency and other notes inacribed with m,esaage, of a political character be it enacted by parliament in the fifteenth year of the republic of india as follows :-1 (1) this act may be called the legal tender notes) act, 1964 (inscribed short title and ededt  5 (2) it extends· to the whole of india z notwithstanding anything contained in the reserve bank of::::: india act, 1934, or in the currency ordinance, 1940, or in any other me •• ::" law for the time being in force, a currency note of the government of a pon of india, a bank note issued by the reserve bank of india, or a tieal chi· 10 government of india one-rupee note issued under the currency raeter ordinance, 1940, which bears written upon it any extrinsic worda or ~~:op1 visible representations intended to conveyor capable of conveying tender a message of a political character, shall not be legal tender; and the reserve bank of india shall not be under any legal obligation to is receive any such note, or to issue rupee coin or other coin or currency notes or bank notes in exchange for any sueh note, or to refund the value of any such note: provided that the reserve bank of india may refund as of pee the whole or part of the value of any such dote 3 (1) the leaai tender (inscribed notes) ordinance, 1842 11 hereby repealed (2) notwithstanding such repeal, anything done or any action taken under the said ordinance, shall be deemed to have been done or taken under this act as if this act were in force on the day on , which such thing was done or such action was taken  statement of objects and reas6nsthe legal tender (inscribed notes) ordinance, 1942, which is still in force by virtue of section 1 (3) of the india and bunna (emergency provisions) act, 1940, applies at present in the areas which prior to 1st november, 1956, were known as part 'a' and part 'c' states it is proposed to extend the operation of the ordinance to the whole of india in order to have a uniform law on the subject throughout the territory of india opportunity has been taken to replace the ordinance by an act of parliament new dzlid; t t krishnamacharl thloth december, 1963  presidents recommendation under article 117 of the constitution oj' india[copy of letter no f5(68)-c&c/62, dated the 30th january, 1984 from shri t t krishnamachari, minister of finance to the secretary, ·!ok sabha] the president having been informed of the subject matter of the proposed legal tender (inscribed notes) bill, 1964, has recommended the introduction of the bill in the !ok sabha under article 117 (1) of the constitution  annexure the ljilgal tender (inscribed notes) oiujinanca, ita no lix of 1942an ordinance to restrict tbe negotiabilit~,'ofcurreney add ether notes inscribed with messages of a politicalebaracter whereas an emergency has arisen which makes it necessary to restrict the negotiability of currency and other notes inscribed with messages of a political character; now, therefore, in exercise of the powels conferred by section 72 of the government of india act, as set out in the ninth schedule to the government of india act, 1935, the governor general is pleased ;~ ~e:: to make and promulgate the following ordinance:-1 (1) this ordinance may be called the legal tender (inscribed notes) ordinance, 1942 (2) it shall come into force at once z notwithstanding anything contained in the reserve bank of india act, 1934, or in the currency ordinance, 1940, or in any other ii of 1934-enactment or rule of law, a currency note of the government of iv of 1940 india, a bank note issued by the reserve bank of india, or a govern-rot beutq meua,el ofa poutleal character not to be 1epl ~ m~t of india one-rupee note issued under the currency ordinance, 1940, which bears written upon it any extrinsic words or visible representations intended to conveyor capable of conveying a message of a political character, shall not be legal tender in all part a states and part c states of india; and the reserve ballk of india shall not be under 8jly legal gbligation to receive any such note, or to lsaue rupee coin or other coin or currency notes or bank notes in· ~chanse for any such note, or to refund the value of any such note:  ?rovided that the reserve bank of india may in its discretion refund as of grace the whole or part of the value of any sueb n~te a bul to restrict the negotiability of currency and other notes inscrilr ed with messages of a political character (shri t t krishnatnacharl, minister of finance) 