THE ANDHRA PRADESH
PROTECTION OF DEPOSITORS OF FINANCIAL ESTABLISHMENTS RULES, 1999
[1][THE
ANDHRA PRADESH PROTECTION OF DEPOSITORS OF FINANCIAL ESTABLISHMENTS RULES, 1999
PREAMBLE
In exercise
of the powers conferred by sub-section (1) of Section 18 of the Andhra Pradesh
Protection of Depositors of Financial Establishments Act, 1999 (Act 17 of
1999), the Governor of Andhra Pradesh hereby makes the following rules namely:
Rule - 1. Short title.
These rules may be called the Andhra
Pradesh Protection of Depositors of Financial Establishments Rules, 1999.
Rule - 2. Definitions.
In these rules, unless the context
otherwise requires,-
(a)
"Act" means the Andhra Pradesh
Protection of Depositors of Financial Establishments Act, 1999 (Act 17 of
1999);
(b)
"Collector" means the District
Collector and District Magistrate;
(c)
"Competent Authority" means the
authority appointed by the Government under Section 4 of the Act.
Rule - 3. Ad-interim order and examination of the complainant and witnesses.
(1)
The Government shall pass the ad interim
order of attachment under Section 3 of the Act.
(2)
Upon receipt of the orders of the Government
under sub-rule (1), the competent authority may examine the complainant and
such examination shall be reduced in writing.
(3)
The competent authority shall have powers to
examine any person who in his opinion will be able to give any information
about the financial establishment, and no oath shall be administered to such
person.
Rule - 4. The Competent Authority's Right to require information.
The competent authority shall have
power to require any financial establishment or its officers or any officer or
authority of the Government or a local authority or any other person to furnish
such information as may be required and such Financial Establishment or Officer
or authority of the Government or local authority or person shall furnish such
information to the competent authority.
Rule - 5. Powers relating to absconding persons.
[2][(1)]
Where the competent authority satisfied or has reason to believe that a person
in respect of whom action is contemplated under the Act has absconded or is
concealing himself, the competent authority shall make a report in writing to
the Special Court.
[3]["
(2) Where the Competent Authority is satisfied or has reason to believe that a
Financial Establishment has committed a default punishable under Section 5 of
the Act, the Competent Authority shall be competent to launch prosecution
before the Special Court against the Financial Establishment and any person
responsible for the management of the affairs of the Financial Establishment
including the promoter, manager or member of the Financial Establishment for
levy of penalty under Section 5 of the Act"].
Rule - 6. Power to freeze or seize property.
(1)
Where the Competent Authority is satisfied or
has reason to believe that any property which is liable to be attached under
the Act is likely to be concealed, transferred or dealt with in any manner
which will result in defeating the purpose of the Act, may make an order
seizing such property or where it is not practicable to seize such property,
make an order that such property shall not be transferred or otherwise dealt
with, except with the prior permission of the Special Court.
(2)
The Competent Authority may take the
assistance of any subordinate officer of the Government to take possessions of
the property in respect of which an order of seizure or freezing has been made
under sub-rule (1).
(3)
Any officer-in-charge of Police Station when
required by the competent authority, shall take all steps, including inquiry,
investigation or survey in respect of any person, place, property, documents,
books of account etc., for the purpose of tracing and identifying the
properties.
(4)
The competent authority shall maintain a
record of all income received and expenditure incurred of the property
received, managed, and disposed and furnish the same to the Special Court.
Rule - 7. When an order is made attaching the money or other property, transfers void.
When an ad-interim order attaching the
money or other property of a Financial Establishment is made by the
Government under Section 3 of the Act, such money or property referred to in
the order shall not be transferred to any other person by any mode whatsoever
and if any such transfer is made, it shall be null and void.
Rule - 8. Competent Authority to assist Special Public Prosecutor.
The competent authority shall render
such assistance to the Special Public Prosecutor in conducting the cases in the
Special Court, as may be required.
Rule - 9. Power of Government to remove difficulty.
If any difficulty arises in carrying
out the provisions of the Act or the rules the competent authority shall refer
it to the Government and the Government may pass such order as they deem fit in
accordance with the provisions of the Act.
Rule - 10. Protection of action taken in good faith.
No suit, prosecution or other
proceedings shall lie against the Government or the competent authority or
against any person for anything done or intended to be done in good faith for
the purpose of carrying out the provisions of the Act or these rules.