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Section 2: Amendment in section 2 of the Bihar Act, 18 of 2002

The Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2013State Act of Bihar · Act 19 of 2013

(1) In the said Act sub-section (a) and (b) of section- 2 shall be substituted by the following :- "(a) "Competent Authority" means any officer notified by the State Government or the Collector of the district or any officer, not below the rank of Additional Collector or equivalent in the district.

(b) "Designated Court" means the Designated Court Constituted under section 7;"

(2) The following Explanation shall be added after sub-section (d) of section 2 of the said Act :-

Explanation - "It shall also include deposit taking business in disguised form like the business of real-estate, plantation, tours and travels, cattle rearing, hotels, resorts , amusement parks, supply of any valuable goods or service or gift thereof etc."

Where this provision sits

ActThe Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2013
Section2
Marginal noteAmendment in section 2 of the Bihar Act, 18 of 2002
JurisdictionState of Bihar
StatusIn force as published by the source

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