Title Year Number Subject
 
 
 
Table of ContentsContent
Preamble   -             BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019
Chapter I  -             PRELIMINARY
Section 1  -             Short title, extent and commencement
Section 2  -             Definitions
Chapter II  -             BANNING OF UNREGULATED DEPOSIT SCHEMES
Section 3  -             Banning of Unregulated Deposit Schemes
Section 4  -             Fraudulent default in Regulated Deposit Schemes
Section 5  -             Wrongful inducement in relation to Unregulated Deposit Schemes
Section 6  -             Certain scheme to be Unregulated Deposit Scheme
Chapter III  -             AUTHORITIES
Section 7  -             Competent Authority
Section 8  -             Designated Court
Chapter IV  -             INFORMATION ON DEPOSIT TAKERS
Section 9  -             Central database
Section 10  -             Information of business by deposit taker
Section 11  -             Information to be shared
Chapter V  -             RESTITUTION TO DEPOSITORS
Section 12  -             Priority of depositors' claim
Section 13  -             Precedence of attachment
Section 14  -             Application for confirmation of attachment and sale of property
Section 15  -             Confirmation of attachment by Designated Court
Section 16  -             Attachment of property of mala fide transferees
Section 17  -             Payment in lieu of attachment
Section 18  -             Powers of Designated Court
Section 19  -             Appeal to High Court
Section 20  -             Power of Supreme Court to transfer cases
Chapter VI  -             OFFENCES AND PUNISHMENTS
Section 21  -             Punishment for contravention of section 3
Section 22  -             Punishment for contravention of section 4
Section 23  -             Punishment for contravention of section 5
Section 24  -             Punishment for repeat offenders
Section 25  -             Offences by deposit takers other than individuals
Section 26  -             Punishment for contravention of section 10
Section 27  -             Cognizance of offences
Chapter VII  -             INVESTIGATION, SEARCH AND SEIZURE
Section 28  -             Offences to be cognizable and non-bailable
Section 29  -             Competent Authority to be informed of offences
Section 30  -             Investigation of offences by Central Bureau of Investigation
Section 31  -             Power to enter, search and seize without warrant
Chapter VIII  -             MISCELLANEOUS
Section 33  -             Publication of advertisement of Unregulated Deposit Scheme
Section 34  -             Act to have overriding effect
Section 35  -             Application of other laws not barred
Section 36  -             Protection of action taken in good faith
Section 37  -             Power of Central Government to make rules
Section 38  -             Power of State Government, etc., to make rules
Section 39  -             Laying of rules
Section 40  -             Power to amend First Schedule
Section 41  -             Act not to apply certain deposits
Section 42  -             Amendment to certain enactments
Section 43  -             Power to remove difficulties
Section 44  -             Repeal and saving
Schedule I  -             THE FIRST SCHEDULE
Schedule II  -             THE SECOND SCHEDULE
Statement of Objects and Reasons   -             Banning of Unregulated Deposit Schemes Act, 2019
 
 
 
© Copyright www.manupatra.com 2019. All rights reserved.