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The Meghalaya Protection of Interest of Depositors (in Financial Establishments) Act, 2018 (Act No. 8 of 2018)

Meghalaya

An Act to protect the deposits made by the public in the financial establishments and matters relating thereto.

Act number
8 of 2018
Ministry
Meghalaya Law Department
Department
Law Department
Enacted
7 Oct 2018

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

22 sections

  1. Section 1Short title, extent and commencement
  2. Section 2Definitions
  3. Section 3Attachment of properties on default of return of deposits
  4. Section 4Authorities to receive complzints and cause inquiry and investigation
  5. Section 5Offences to be cogn~able and non-bailable
  6. Section 6Competent Authority
  7. Section 7Punishment for default in repayment of deposits and interests
  8. Section 8Report and Return by the Financial Establishments
  9. Section 9Compounding of offences
  10. Section 10Special Courts
  11. Section 11Powers Special regarding of the Courts attachment, sale ,realization and distribution etc.
  12. Section 12Attachment of properties of malafied transferees
  13. Section 13Security in lieu of attachment
  14. Section 14Administration of property attached
  15. Section 15Appeal
  16. Section 16Special Public Prosecutor
  17. Section 17Procedure and Powers of Special Courts regarding offences
  18. Section 18Act to override other laws
  19. Section 19Protection of action taken in good faith.
  20. Section 20Power to make rules
  21. Section 21Power to remove difficulties
  22. Section 22Repeal and Savings