Banning of Unregulated Deposite Schemes Act, 2019

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Description
The Banning of Unregulated Deposit Schemes Rules, 2020
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Contents
THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019
CHAPTER I PRELIMINARY
1. Short title, extent and commencement
2. Definitions
CHAPTER II BANNING OF UNREGULATED DEPOSIT SCHEMES
3. Banning of Unregulated Deposit Schemes
4. Fraudulent default in Regulated Deposit Schemes
5. Wrongful inducement in relation to Unregulated Deposit Schemes 6. Certain scheme to be Unregulated Deposit Scheme
7. Competent Authority
8. Designated Court
CHAPTER III AUTHORITIES
CHAPTER IV INFORMATION ON DEPOSIT TAKERS
9. Central database
10. Information of business by deposit taker 11. Information to be shared
CHAPTER V RESTITUTION TO DEPOSITORS
12. Priority of depositors' claim
13. Precedence of attachment
14. Application for confirmation of attachment and sale of property
15. Confirmation of attachment by Designated Court
16. Attachment of property of mala fide transferees
17. Payment in lieu of attachment
18. Powers of Designated Court
19. Appeal to High Court
20. Power of Supreme Court to transfer cases
CHAPTER VI OFFENCES AND PUNISHMENTS
21. Punishment for contravention of section 3
22. Punishment for contravention of section 4
23. Punishment for contravention of section 5
24. Punishment for repeat offenders
25. Offences by deposit takers other than individuals
26. Punishment for contravention of section 10
27. Cognizance of offences
CHAPTER VII INVESTIGATION, SEARCH AND SEIZURE
28. Offences to be cognizable and non-bailable
29. Competent Authority to be informed of offences
30. Investigation of offences by Central Bureau of Investigation
31. Power to enter, search and seize without warrant
32. Application of Code of Criminal Procedure, 1973 to proceedings
before Designated Court
CHAPTER VIII MISCELLANEOUS
33. Publication of advertisement of Unregulated Deposit Scheme
34. Act to have overriding effect
35. Application of other laws not barred
36. Protection of action taken in good faith
37. Power of Central Government to make rules
38. Power of State Government, etc., to make rules
39. Laying of rules
40. Power to amend First Schedule
41. Act not to apply certain deposits
42. Amendment to certain enactments 43. Power to remove difficulties
44. Repeal and saving
THE FIRST SCHEDULE-REGULATED DEPOSIT SCHEMES THE SECOND SCHEDULE-AMENDMENTS TO CERTAIN ENACTMENTS
THE PRIZE CHITS AND MONEY CIRCULATION SCHEM (BANNING) ACT, 1978
1. Short title and extent
2. Definitions
3. Banning of prize chits and money circulation schemes or enrolment as members or participation therein
4. Penalty for contravening the provisions of section 3
5. Penalty for other offences in connection with prize chits or money circulation schemes
6. Offences by companies
7. Power to enter, search and seize
8. Forfeiture of newspaper and publication containing prize
chit or money circulation scheme
9. Power to try offences
10. Offences under this Act to be cognizable
11. Act not to apply to certain prize chits or money circulation schemes
12. Transitional provisions
13. Power to make rules
14. Repeals and saving
THE BANNING OF UNREGULATED DEPOSIT SCHEMES
1. Short title and commencement
2. Definitions
3. Information and particulars to be considered
4. Manner of provisional attachment and administration of provisionally attached property
5. Impounding and retention of records
6. Central Database
7. Form and manner of intimation
8. Application for confirmation of provisional attachment
9. Procedure to be adopted by Designated Court
10. Authorisation for search and seizure
11. Retraction of advertisement