law: Government Securities Act 2006
  10.
  
  Government securities belonging to minor or insane person -
  1.   Where any Government
  
  security is held on behalf of a minor, the payment of the same for the time
  
  being due on a Government security either by way of outstanding principal or
  
  interest thereon may be made to the father or mother of such minor and where
  
  neither parent is alive or where the living parents are or only living parent
  
  is incapable of action, to a person entitled under the law for the time being
  
  in force to have care of the property of the minor.
  2.   When a Government
  
  security belongs to a minor or a person who is insane and incapable of managing
  
  his affairs and the outstanding principal value of the Government security does
  
  not in the aggregate exceed rupees one lakh or such higher amount not exceeding
  
  rupees one crore as the Central Government may, by a notification in the
  
  Official Gazette from time to time, fix, the Bank may make such order as it
  
  thinks fit for the vesting of such Government security in such person as it
  
  considers represents the minor or insane person.