Definitions.

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.