Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999

{
    "id": 14706,
    "slug": "andhra-pradesh-protection-of-depositors-of-financial-establishments-act-1999-1999",
    "title": "Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999",
    "short_title": "Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999",
    "act_number": "(Act No. 17 of 1999)",
    "act_year": 1999,
    "act_type": "STATE",
    "location": "Andhra Pradesh",
    "law_status": "unknown",
    "enactment_date": null,
    "description": "Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "1. Short title, extent and commencement.",
            "chapter": null,
            "content": "Object & Reasons 6\nStatement of Objects and Reasons.\nStatement of Objects and Reasons - (Act 12 of 2003).",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "2. Definitions.",
            "chapter": null,
            "content": "(a) \"competent authority\" means the authority appointed under Section 4:\n(b) \"deposit\" means the deposit of a sum of money either in lumpsum or instalments made with a financial establishment for a fixed period, for interest or return in any kind;\n[(c) \"Financial Establishment\" means any person or group of individuals accepting deposit under any scheme or arrangement or in any other manner but does not include a corporation or a co-operative society owned or controlled by any State Government or the Central Government or a banking company as defined under clause (c) of Section 5 of the Banking Regulation Act, 1949] .\n(d) \"Government\" means the State Government of Andhra Pradesh;\n(e) \" Notification\" means the notification published in Andhra Pradesh Gazette and the word \"notified\" shall be construed accordingly; and\n(f) \"prescribed\" means prescribed by rules made under this Act;",
            "footnote": "",
            "is_definition": true,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "3. Attachment of properties on default in respect of deposits.",
            "chapter": null,
            "content": "(i) Where, upon complaints received from a depositor or depositors, that any financial establishment defaulted or is likely to default in the return of deposits in cash or kind after maturity, or in any manner agreed upon; or\n(ii) Where the Government have reason to believe that any financial establishment is acting in a manner prejudicial to the interests of the depositors with an intention to defraud the depositors;",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        },
        {
            "number": "4",
            "title": "4. Competent Authority.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 3
        },
        {
            "number": "5",
            "title": "5. Penalty for default.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 4
        },
        {
            "number": "6",
            "title": "6. Special Court.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 5
        },
        {
            "number": "7",
            "title": "7. Powers of Special Court regarding attachment.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 6
        },
        {
            "number": "8",
            "title": "8. Attachment of property of certain transferees.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 7
        },
        {
            "number": "9",
            "title": "9. Security in lieu of attachment.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 8
        },
        {
            "number": "10",
            "title": "10. Administration of property attached.",
            "chapter": null,
            "content": "(a) Providing from such of the property attached as the applicant claims an interest in such sums as may be reasonably necessary for the maintenance of the applicant and of his family, and for expenses connected with the defence of the applicant where criminal proceedings have been instituted against him in the Special Court under Section 5;\n(b) Safeguarding so far as may be practicable the interest of any business affected by the attachment and particularly by in the interest of any partners in such business.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 9
        },
        {
            "number": "11",
            "title": "11. Appeal.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "12",
            "title": "12. Special Public Prosecutor and Special Government Pleader.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 11
        },
        {
            "number": "13",
            "title": "13. Procedure and Powers of Special Court regarding offences.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 12
        },
        {
            "number": "14",
            "title": "14. Act to override other laws.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 13
        },
        {
            "number": "15",
            "title": "15. Penalty for false or vexatious complaints.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 14
        },
        {
            "number": "16",
            "title": "16. Protection of action taken in good faith.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 15
        },
        {
            "number": "17",
            "title": "17. Power to remove doubts and difficulties.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 16
        },
        {
            "number": "18",
            "title": "18. Power to make rules.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 17
        }
    ],
    "metadata": {
        "Act ID": "Last Updated 13th August, 2019 [ap029]",
        "Act Number": "(Act No. 17 of 1999)",
        "Enactment Date": "",
        "Act Year": "1999",
        "Short Title": "Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999",
        "Type": "STATE",
        "Location": "Andhra Pradesh"
    },
    "updated_at": "2026-09-29 21:55:18"
}