Any financial establishment or person, whose property has been or is about to be attached under this Act, may, at any time, apply to the Special Court for permission to give security in lieu of such attachment and where the security offered and given, is in the opinion of the Special Court, satisfactory and sufficient, it may cancel the ad-interim order of attachment or, as the case may be, refrain from passing the order of attachment.
Section 13: Security in lieu of attachment
The Meghalaya Protection of Interest of Depositors (in Financial Establishments) Act, 2018 (Act No. 8 of 2018)State Act of Meghalaya · Act 8 of 2018
Where this provision sits
| Act | The Meghalaya Protection of Interest of Depositors (in Financial Establishments) Act, 2018 (Act No. 8 of 2018) |
|---|---|
| Section | 13 |
| Marginal note | Security in lieu of attachment |
| Jurisdiction | State of Meghalaya |
| Status | In force as published by the source |
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