16. Redemption of stock, bearer bonds and book-entry Government securities

Stock, bearer bonds or book-entry Government securities issued under this Act shall be redeemable at par on such dates as may be specified in the regulations relating to the issue of stock, bearer bonds or book-entry Government securities, after which dates all the interest on the principal moneys represented thereby shall cease and determine, whether payment of the principal moneys has been demanded or not.

Redemption proceeds of book-entry Government securities shall be disposed of in accordance with the instructions from the depositor for whose account the securities shall have been maintained by the Authority.