[1217]
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La Gazette de L' État de Poudouchéry
The Gazette of Puducherry
PART - II
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20 {
No. 69
Poudouchéry
Mercredi
20
Decembre
2017
No.
Puducherry
Wednesday
20th
December
2017
( 29 Agrahayana 1939 )
Registered No.
SSP/PY/44/2015-17
WPP No. TN/PMG(CCR)/
WPP-88/2015-17
Dated : 20-12-2017
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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).
1218
LA GAZETTE DE L'ETAT
[PART–II
Act
No. 1
of
2005.
Short title and
commencement.
Amendment
of section 2.
THE PUDUCHERRY PROTECTION OF
INTERESTS OF DEPOSITORS IN FINANCIAL
ESTABLISHMENTS (AMENDMENT) ACT, 2017
(Act No. 12 of 2017)
(8-12-2017)
AN
ACT
further to amend the Puducherry Protection of
Interests of Depositors in Financial
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
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
Depositors in Financial Establishments Act, 2004
(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,
association of individuals, a firm or a company registered
under the Companies Act, 1956 or a Limited Liability
Partnership Firm registered under the Limited Liability
Partnership Act, 2008 accepting deposit under any
scheme or arrangement or in any other manner,
but does not include:-
Act
No. 1
of
1956.
Act
No. 6
of
2009.
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
(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:-
"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.
3B. Notwithstanding anything contained in
section 438 of the Code of Criminal Procedure, 1973,
no Court shall grant anticipatory bail to any person
under this Act.".
Insertion of
new sections
3A and 3B.
Compounding
of offences.
Act
No. 10
of
1949.
Act
No. 2
of
1974.
Anticipatory
bail not to
be granted.
online publication at “http://styandptg.puducherry.gov.in”
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Directorate of Stationery and Printing
Puducherry-605 009.