In this Act, unless the context otherwise requires,—
(a) "competent authority" means the authority appointed by the Government under section 4;
(b) "deposit" means the deposit of a sum of money made with a financial establishment for a fixed period, for interest or return of any kind;
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(c) 1[financial establishment” means an individual, an association of individuals, a firm or a company/incorporated bodies registered under the Companies Act, 1956 (Central Act 1 of 1956) or the Companies Act, 2013 (Central Act 18 of 2013), carrying on the business of receiving deposits under any scheme or arrangement or in any other manner but does not include a corporation or a co-operative society owned or controlled by any State Government or the Central Government, or a banking company as defined under clause
(c) of section 5 of the Banking Regulation Act, 1949 (Central Act 10 of 1949) or a nonbanking financial company as defined in clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (Central Act 2 of 1934)]
(d) "Government” means the Government of Goa.
CHAPTER II