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La Gazette de L' État de Poudouchéry
The Gazette of Puducherry
PART - II
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▪ 2017 } | 20 { No. 69 Poudouchéry Mercredi 2 0 Decembre 2017
No. Puducherry Wednesday 20th December 2017
( 29 Agrahayana 1939 )
GOVERNMENT OF PUDUCHERRY
LAW DEPARTMENT
No. 30/Leg./2017-LD.
Puducherry, the 19th December 2017.
The following Act of the Legislative Assembly, Puducherry received the
assent of the President of India, on the 8th day of December, 2017 and is
hereby published for general information.
N. MURUGAVEL,
Under Secretary to Government (Law).
[1217] 1218 LA GAZETTE DE L'ETAT [PART–II
THE PUDUCHERRY PROTECTION OF
INTERESTS OF DEPOSITORS IN FINANCIAL
ESTABLISHMENTS (AMENDMENT) ACT, 2017
(Act No. 12 of 2017)
(8-12-2017)
AN
A C T
further to amend the Puducherry Protection of I n t e r e s t s o f D e p o s i t o r s i n F i n a n c i a l
Establishments Act, 2004.
BE it enacted by the Legislative Assembly of
Puducherry in the sixty-seventh year of the Republic
of India as follows :—
1. (1) This Act may be called the Puducherry
Short title and commencement.
Protection of Interest of Depositors in Financial
Establishments (Amendment) Act, 2017.
(2) Section 2 shall come into force at once
and section 3 shall be deemed to have come into
force on and from the 15th day of March, 2005.
2. In the Puducherry Protection of Interests of
A m e n d m e n t of section 2.
Depositors in Financial Establishments Act, 2004
Ac t No. 1 o f 2005.
(hereinafter referred to as the Principal Act), for
the existing clause (d) of section 2, the following
shall be substituted, namely:—
(d) "Financial Establishment" means an individual, Partnership Act, 2008 accepting deposit under any 1219
PART–II] LA GAZETTE DE L'ETAT
(i) A corporation incorporated by an Act of
any Legislature; or
(ii) A co-operative society owned or controlled by any State Government or the Central Government or the Government of any Union Territory; or
(iii) A banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949; or
Ac t No. 10 o f 1949.
(iv) Any institution as the State Government
may, by notification, specify.
In the Principal Act, after section 3, the
following sections shall be inserted, namely:-
Insertion of new sections 3A and 3B.
Compounding of offences.
"3A. (1) An offence punishable under section 3 may, before the institution of prosecution, be compounded by the Competent Authority or after the institution of the prosecution, during any stage of judicial process before the Designated Court, be compounded by the Competent Authority with the permission of the Designated Court on payment of the entire amount due to the depositors with or without interest.
(2) Where an offence compounded under subsection (1), no proceeding or further proceeding, as the case may be, shall be taken or continued against the offender, in respect of the offence so compounded and the offender if in custody, shall be discharged forthwith.
Anticipatory bail not to be granted.
online publication at "http://styandptg.puducherry.gov.in" Government Central Press Directorate of Stationery and Printing Puducherry-605 009.