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Section 11: Information to be shared.

The Banning of Unregulated Deposit Schemes Act, 2019Central Act · Act 21 of 2019

(1) The Competent Authority shall share all information received under section 29 with the Central Bureau of Investigation and with the authority which may be designated by the Central Government under section 9.

(2) The appropriate Government, any Regulator, income-tax authorities or any other investigation agency, having any information or documents in respect of the offence investigated under this Act by the police or the Central Bureau of Investigation, shall share all such information or documents with the police or the Central Bureau of Investigation.

(3) Where the principal officer of any banking company, a corresponding new bank, the State Bank of India, a subsidiary bank, a regional rural bank, a co-operative bank or a multi-State co-operative bank has reason to believe that any client is a deposit taker and is acting in contravention to the provisions of this Act, he shall forthwith inform the same to the Competent Authority.

Where this provision sits

ActThe Banning of Unregulated Deposit Schemes Act, 2019
Section11
Marginal noteInformation to be shared.
JurisdictionCentral
StatusIn force as published by the source

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