- In this Act, unless the context otherwise requires, -
(1)
"appropriate Government " means in respect of matters relating to, -
(2)
"company " shall have the same meaning as assigned to it in clause (20) of section 2 of the Companies Act, 2013;
(3)
"Competent Authority " means an Authority appointed by the appropriate Government under section 7;
(4)
"deposit " means an amount of money received by way of an advance or loan or in any other form, by any deposit taker with a promise to return whether after a specified period or otherwise, either in cash or in kind or in the form of a specified service, with or without any benefit in the form of interest, bonus, profit or in any other form, but does not include -
(5)
"depositor " means any person who makes a deposit under this Act;
(6)
"deposit taker " means -
(7)
"Designated Court " means a Designated Court constituted by the appropriate Government under section 8;
(8)
"insurer " shall have the same meaning as assigned to it in clause (9) of section 2 of the Insurance Act, 1938;
(9)
"notification " means a notification published in the Official Gazette and the expression "notify " shall be construed accordingly;
(10)
"person " includes -
(11)
"prescribed " means prescribed by the rules made by the Central Government or, as the case may be, the State Government under this Act;
(12)
"property " means any property or assets of every description, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and includes deeds and instruments evidencing title to, or interest in, such property or assets, wherever located;
(13)
"public financial institution " shall have the same meaning as assigned to it in clause (72) of section 2 of the Companies Act, 2013;
(14)
"Regulated Deposit Scheme " means the Schemes specified under column (3) of the First Schedule;
(15)
"Regulator " means the Regulator specified in column (2) of the First Schedule;
(16)
"Schedule " means the Schedule appended to this Act;
(17)
"Unregulated Deposit Scheme " means a Scheme or an arrangement under which deposits are accepted or solicited by any deposit taker by way of business and which is not a Regulated Deposit Scheme, as specified under column (3) of the First Schedule.