Amendment status not verified — confirm the current text below against the official source.
Amendment of Section 2 Central Act 15 of 1992 Central Act 10 of 1949 Ex-212/2018 3 (iv) any amount received from the Industrial Development Bank of India, or a State Financial Corporation, or any financial Institution specified in or under section 4A of the Companies Act, 1956, or any other institution that may be specified by notification by the Government in this behalf. (v) any amount received from an individual or a firm or an association or individuals, registered under any enactment relating to money lending which is for the time being in force in the State of Mizoram; and (vi) any amount received by way of subscription in respect of a Chit; Explanation I - “Chit” has the meaning as assigned to it in clause (b) of section 2 of the Chit Funds Act, 1982; Explanation II - Any Credit given by a seller to a buyer on the sale of any property (whether movable or immov- able) shall not be deemed to be deposit for the purposes of this clause. 2) In section 2 of the Principal Act, the following clause (e) to (k) shall be inserted, namely:- (e) “Depositors” means a person who has made deposits with Financial Establishment; (f) “any other officers authorized by Government in order to carry out the purpose of this Act” means an Officer em- powered by the Government, by notification in the Offi- cial Gazette, in order to carry out the purposes of this Act; (g) “the Deputy Commissioner” means the Deputy Commis- sioner and District Magistrate of the District; (h) “the Superintendent of Police of the District” means the Senior-most Police Officer In-charge of the Police Dis- trict and shall be deemed to have included his Sub-ordi- nate officers; (i) “The Bureau of Investigation (Economic Offences)” means the Bureau of Investigation (Economic Offences) under the Govt. of Mizoram; Central Act 1 of 1959 Central Act 40 of 1982 Ex-212/2018 4 Published and Issued by Controller, Printing & Stationery Department, Government of Mizoram Printed at the Mizoram Government Press, Aizawl. C/200 (j) “Competent Regulatory Authority” means and includes Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Devel- opment Authority (IRDA), Registrar of Companies (ROC), Registrar of Cooperative Societies, Govt. of Mizoram or any other Authority empowered by the Cen- tral or State Government from time to time by a notifica- tion in the official Gazette; (k) “Competent Court” means the Court of District and Ses- sions Judge of Competent Jurisdiction or the Special Court constituted under this Act.” : In section 4 of the Principal Act, the following sub-sec- tion (5) may be inserted as follows, namely:- (5) “For the purpose of crediting and dealing with the money realized by the Competent Authority, he shall open an account in any Scheduled Bank.” : In sub-section (2) of section 13 of the Principal Act, the following clause (a) & (b) may be inserted as follows, namely :- “(a) Not-withstanding anything contained in section 438 of the Code of Criminal Procedure, 1973 (Central Act 2 of 1974), no Court shall grant anticipatory bail to any per- son booked under this Act.” (b) Every Financial Establishment shall furnish a quarterly return within one month of the expiry of each quarter of a financial year to the Deputy Commissioner and the Su- perintendent of Police of the district in respect of its busi- ness and financial position, the area of its investment and the location of investments of moneys made by it within and outside the State, if any and such other particulars as may be prescribed.” Secretary, Law & Judicial Deptt. Govt. of Mizoram.