In this Act, unless the context otherwise requires,-
(a) "Competent Authority" means the authority appointed under section 4;
1. Substituted for the words “REGULATION OF PUBLIC DEPOSITS” vide H.P. Act No. 4 of 2002.
2. Passed in Hindi by the Himachal Pradesh Vidhan Sabha. For Statement of Objects and Reasons see the Rajpatra, Himachal Pradesh (Extra-ordinary), dated 9th April, 1999, pp. 1255 and 1262.
3. Passed in Hindi by the Himachal Pradesh Vidhan Sabha. For Statement of Objects and Reasons see the Rajpatra, Himachal Pradesh (Extra-ordinary), dated 18th December, 2001, pp. 3602 and 3604.
4 Passed in Hindi by the Himachal Pradesh Vidhan Sabha. For Statement of Objects and Reasons see the Rajpatra, Himachal Pradesh (Extra-ordinary), dated 27th December, 2006 pp. 9182 and 9185.
5. Substituted for the words “Regulation of Deposits” vide H.P. Act No. 4 of
2002.
THE HIMACHAL PRADESH PROTECTION OF INTERESTS OF DEPOSITORS 3 (IN FINANCIAL STABLISHMENTS ACT, 1999
(b) "deposit" means the deposit of a sum of money made with a Financial Establishment for a fixed period, for interest or return in any kind;
(c) "Financial Establishment" means an individual, an association of individuals or a firm 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 section 5(c) of the Banking Regulation Act, 1949 (Central Act No. X of 1949);
(d) "Government" means the State Government of Himachal Pradesh; and
(e) "authorised officer" means an officer empowered, by the Government, by notification in the Official Gazette, to exercise the powers of the Government under section 3 of this Act.
CHAPTER-II