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Bihar act 007 of 2017 : The Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2017

बहार असाधारण बहार

(संंंं0 पटना 303) पटना laŒ ,y0th0&01&01@2017 vf/kfu;e] ftlij egkefge jkT;iky fnukad 12 vizhy 2017 dks vuqefr ns pqds loZlk/kkj.k dh lwpuk ds fy;s izdkf'kr fd;k tkrk gS A िनबंधन सं या

गजट

अंकंंं

सरकार ारा ूकािशत

30 चैऽैैै 1939 (श0)

, वहृः पृृृ ितवार, 20 अूील 2017

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20 vizhy 2017

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20 vizhy 2017

la0 ,y0th0&01&01@2017@50@yst% A& —fcgkj fo/kku eaMy }kjk ;Fkkikfjr vkSj egkefge jkT;iky }kjk fnukad 12 vizhy 2017 dks vuqer fcgkj tekdÙkkZvksa ds fgrksa dk laj{k.k ¼foÙkh; LFkkiukvksa esZ sa s sa a sa sZ sa s sa a sa sZ sa s sa a sa s a½ ¼la'kks/ku½ a a sa a sa a s vf/kfu;e] 2017 dk fuEufyf[kr vaxzsth vuqokn fcgkj&jkT;iky ds izkf/kdkj ls blds }kjk izdkf'kr fd;k tkrk

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[Bihar Act 7, 2017]

The Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2017

AN

ACT

To Amend The Bihar Protection of Interest of Depositors (In Financial Establishments) Act, 2002 [Bihar Act, 18 of 2002]

Be it enacted by the legislature of the State of Bihar in the sixty-eighth year of the Republic of India as follows .-

1. Short title, extent and commencement .- (1) This Act may be called The Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2017.

(2) It shall extend to the whole of the State of Bihar.

(3) It shall come into force at once.

2. Amendment in section-3 of Bihar Act, 18 of 2002 .- Proviso of sub-section (2) of section-3 of the said Act, 2002 shall be substituted by the following:-

"Provided that Deputy Superintendent of Police or equivalent officer along with Police Inspector not below the rank of an Inspector of Police may also investigate any such offence under his jurisdiction without the order of Metropolitan Magistrate or a Magistrate of first class, as the case may be, or may arrest therefor without warrant."

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3. Insertion of new section-3C in the Bihar Act, 18 of 2002.-The following new section- 3C shall be inserted after section-3B of the said Act 2002 :-

"3C Compounding of offence .- (1) An offence punishable under section-3 may, after the institution of the prosecution by the Competent Authority with the permission of the Designated Court on payment of the entire amount due to the depositors with interest at the rate of 1% per month or at the rate of interest notified by Reserve Bank of India for the time being in force, whichever is higher.

(2) Where an offence has been compounded under sub-section (1), no further proceeding shall continue against the offender in respect of the offence so compounded and the offender, if in custody, shall be discharged forthwith."

4. Amendment in section-9 of the Bihar Act, 18 of 2002 .- The following new clause (g) shall be added after clause (f) of sub section (2) of section-9 of the said Act:-

"(g) In case the money realized from sale of property attached is not enough to cover the shortfall, the Designated Court may impose fine on every person, including the promoter, partner, director, manager or any other person or an employee responsible for the management of or conducting of the business of the affairs of such Financial Establishment to cover the shortfall as may be necessary for the purpose of repayment to the depositors."

By order of the Governor of Bihar,

SURENDRA PRASAD SHARMA,

Secretary to Government.

———— अधी*क, सिचवालय मुिणालयुुु , बहार, पटना ारा ूकािशत एवंंंं मु/ित।ुुु बहार गजट (असाधारण) 303-571+400-ड%0ट%0पी0।

Website: http://egazette.bih.nic.in

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