The Meghalaya Protection of Interest of Depositors (in Financial Establishments) Act, 2018 (Act No. 8 of 2018)
State Act of Meghalaya · Act 8 of 201822 provisions
The enactment
| Long title | An Act to protect the deposits made by the public in the financial establishments and matters relating thereto. |
|---|---|
| Type | Act |
| Citation | Act 8 of 2018 |
| Year | 2018 |
| Jurisdiction | State of Meghalaya |
| Ministry | Meghalaya Law Department |
| Status | In force as published by the source |
| Provisions published | 22 |
| Subjects | financial |
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- Section 1 Short title, extent and commencement
- Section 2 Definitions
- Section 3 Attachment of properties on default of return of deposits
- Section 4 Authorities to receive complzints and cause inquiry and investigation
- Section 5 Offences to be cogn~able and non-bailable
- Section 6 Competent Authority
- Section 7 Punishment for default in repayment of deposits and interests
- Section 8 Report and Return by the Financial Establishments
- Section 9 Compounding of offences
- Section 10 Special Courts
- Section 11 Powers Special regarding of the Courts attachment, sale ,realization and distribution etc.
- Section 12 Attachment of properties of malafied transferees
- Section 13 Security in lieu of attachment
- Section 14 Administration of property attached
- Section 15 Appeal
- Section 16 Special Public Prosecutor
- Section 17 Procedure and Powers of Special Courts regarding offences
- Section 18 Act to override other laws
- Section 19 Protection of action taken in good faith.
- Section 20 Power to make rules
- Section 21 Power to remove difficulties
- Section 22 Repeal and Savings
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