In these rules, unless the context otherwise requires,—
(a) “Act” means the Private Security Agencies (Regulation) Act, 2005 (29 of 2005);
(b) “ATM” means the automatic teller machine that dispenses cash or performs other banking services when an account holder of any bank inserts a Bank card therein;
Explanation – For the purposes of this clause, “Bank card” includes credit card or debit card;
(c) “cash handling agency”, “cash replenishment agency” or “cash-in-transit agency” means an agency or entity, by whatever name called, engaged in cash transportation activities;
(d) “cash transportation activities” means the physical transfer of cash, such as banknotes, coins, credit card, debit card or other items of value from one location to another, and includes loading cash in to, or unloading cash from, an ATM machine;
(e) “private security” or “private security agency” shall have the same meaning as assigned to it in clause (f) or clause
(g) of section 2 of the Act;
(f) “Schedule” means a Schedule appended to these rules.
3. Private Security for cash transportation activities, etc.- (1) No private security shall be provided by the private security agency for cash transportation activities unless he holds a license under the Act.
(2) For the purpose of providing private security for cash transportation activities, a contract may be entered into between,-
(a) a private security agency holding a license under the Act and the bank concerned; or
(b) a cash handling agency and the bank concerned:
Provided that in case the cash handling agency holds a license as a private security agency under the provisions of the Act, such cash handling agency may itself provide the private security to cash transportation activities in accordance with the provisions of these rules.