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Banning of Unregulated Deposit Schemes Act, 2019

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Chapters
8
Sections
44

Section index

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Chapter I

Preliminary

2 sections
§ 1 Short title, extent and commencement
§ 2 Definitions
Chapter II

Banning of Unregulated Deposit Schemes

4 sections
§ 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
Chapter III

Authorities

2 sections
§ 7 Competent Authority
§ 8 Designated Court
Chapter IV

Information on Deposit Takers

3 sections
§ 9 Central database
§ 10 Information of business by deposit taker
§ 11 Information to be shared
Chapter V

Restitution to Depositors

9 sections
§ 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

7 sections
§ 21 Punishment for contravention of section
§ 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

5 sections
§ 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 warran
§ 32 Application of Code of Criminal Procedure, 1973 to proceedings before Designated Court
Chapter VII

Miscellaneous

12 sections
§ 33 Publication of advertisement of Unregulated Deposit Scheme
§ 34 Act to have overriding effect
§ 35 SApplication 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

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