Section 2 in Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011
2. Definitions.
- In this Act, unless the context otherwise requires,-(a)"Competent Authority" means the Authority appointed under section 4;(b)"Deposit" means the deposit of money either in one lump sum or by installments made with the Financial Establishment for a fixed period for interest or for return in any kind or for any service;(c)"Designated Court" means the Designated Court constituted under section 8;(d)"Financial Establishment" means an individual or an association of individuals, a firm or a Company registered under the Companies Act, 1956 (1 of 1956). carrying on the business of receiving deposits 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; (10 of 1949).(e)"Government" means the Government of Odisha; and(f)"prescribed" means prescribed by rules made under this Act.
