Chapter I Chapter I

1. (1) This Act may be called the Goa Protection of Interests of Depositors (in Financial Establishments) Act, 1999.
2. (2) It shall come into force at once.

In this Act, unless the context otherwise requires,— (a)"competent authority" means the authority appointed by the Government under section 4; (b)"deposit" means the deposit of a sum of money made with a financial establishment for a fixed period, for interest or return of any kind;

(c)

1[financial establishment” means an individual, an association of individuals, a firm or a company/incorporated bodies registered under the Companies Act, 1956 (Central Act 1 of 1956) or the Companies Act, 2013 (Central Act 18 of 2013), 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 (Central Act 10 of 1949) or a non- banking financial company as defined in clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (Central Act 2 of 1934)] (d)"Government” means the Government of Goa.