70.
| (1) Rules may be made providing, in the event of the death of the purchaser of a savings certificate-
| | (a) for the issue of a new savings certificate to any person proved to the satisfaction of the Bank to be an heir or legatee of the deceased purchaser; or | | |
| | (b) for the payment, to the executor of the last will of the deceased purchaser or to the administrator of his estate or to any heir, of a sum equivalent to the surrender value of that savings certificate. | | |
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| (2) Any new savings certificate issued and any payment made under this section by the Bank shall be and shall operate for all purposes as a complete discharge of the obligations of the Bank in respect of any savings certificate issued to the deceased purchaser or of any money payable on the surrender of the certificate. |
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| (3) Nothing in this Act or in any rule made there- under shall affect or be deemed to affect the right of the Commissioner of Estate Duty, under any law for the time being in force, to receive from the Bank the surrender value, at the time of the death of any deceased purchaser, of any savings certificate forming part of the estate of such purchaser. |
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Sri Lanka Consolidated Acts