State Act

The Telangana Protection of Depositors of Financial Establishments Act, 1999.

2. In this Act, unless the context otherwise requires,- (a) “competent authority” means the authority appointed under section 4; (b) “deposit” means the deposit of a sum of money either in lumpsum or installments made with a financial establishment for a fixed period, for interest or return in any kind; 3[(c) “Financial Establishments” 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;] (d) “Government” means the State Government of 4Telangana; (e) “Notification” means the notification published in the 4Telangana Gazette and the word “notified” shall be construed accordingly; and (f) “prescribed” means prescribed by rules made under this Act.