Amendment status not verified — confirm the current text below against the official source.
Definitions- In this Act, unless the context otherwise requires:- (1) "Competent Authority" means the authority appointed under Section 4. 287 (2) "Deposit" means the deposit of money either in one lump sum or by installments made with the Financial Establishment for a fixed period for interest or for return in anykind or for any service. (3) "Financial Establishment" means an individual or an association of individuals, a firm or a company registered under Companies Act,1956 (Central Act 1 of 1956) carrying on the business of receiving deposits under any scheme or arrangement or in any other manner but does not include a corporation or a co-operative society owned or controlled by any State Government or the Central Government or a banking company as defined under section 5 (c) of the Banking Regulation Act, 1949 (Central Act x of 1949). (4) "Government" means the State Government. CHAPTER-11