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Section 5: Impounding and retention of records

Kerala Banning of Unregulated Deposit Schemes RulesState Act of Kerala · Act 21 of 2019

(1) The person from whose custody records are taken under sub-section (8) of section 7 of the Act may make copies thereof, or take extracts therefrom, in the presence of an officer authorised by the Competent Authority, at such place and time as the Competent Authority may appoint in this behalf.

(2) The officer appointed under sub-section (2) of section 7 shall retain such records in his custody without taking approval from the Competent Authority for a period upto three months, and if the records are necessary to be retained beyond the said period, approval of the Competent Authority shall be obtained.

(3) If the person from whose custody records are impounded objects for any reason to the records being impounded, he may make an application to the Competent Authority stating the reasons for such objection and requesting for the return of the records, and the Competent Authority may, after giving the applicant an opportunity of being heard, pass such orders as he thinks fit.

(4) The officer shall ensure the safe custody of the records impounded and retained in his custody.

6 . Powers of Civil Court conferred on the Competent Authority.- (1) Apart from the powers conferred on the Competent Authority under sub-section (4) of section 7 of the Act, the Competent Authority shall have the powers of a Civil Court under the Code of Civil Procedure, 1908 (Central Act 5 of 1908) while conducting investigation or inquiry in respect of the following matters, namely:-

(a) issue commission for local inspection;

(b) to pass, during the pendency of any complaint, any interim order, as may appear to the Competent Authority to be just and fair to meet the ends of justice;

(c) to dismiss a complaint for default or being frivolous.

4 This is a digitally signed Gazette.

Authenticity may be verified through https://compose.kerala.gov.in/

Where this provision sits

ActKerala Banning of Unregulated Deposit Schemes Rules
Section5
Marginal noteImpounding and retention of records
JurisdictionState of Kerala
StatusIn force as published by the source

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