Section 38
Power of State Government, etc., to make rules.
The Banning of Unregulated Deposit Schemes Act, 2019
About this Act
An Act to provide for a comprehensive mechanism to ban the unregulated deposit schemes, other than deposits taken in the ordinary course of business, and to protect the interest of depositors and for matters connected therewith or incidental thereto.
(1) The State Government or Union
territory Government, as the case may be, in consultation with the Central Government, by
notification, make rules for carrying out the provisions of this Act.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:--
(a) ceiling for self-help groups under clause (j) of sub-section (4) of section 2;
(b) purpose and ceiling under clause (k) of sub-section (4) of section 2;
(c) the manner of provisional attachment of property by the Competent Authority under subsection (3) of section 7;
(d) other matters under clause (f) of sub-section (4) of section 7;
(e) the rules relating to impounding and custody of records under sub-section (8) of section 7; and
(f) any other matter which is required to be, or may be, prescribed.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:--
(a) ceiling for self-help groups under clause (j) of sub-section (4) of section 2;
(b) purpose and ceiling under clause (k) of sub-section (4) of section 2;
(c) the manner of provisional attachment of property by the Competent Authority under subsection (3) of section 7;
(d) other matters under clause (f) of sub-section (4) of section 7;
(e) the rules relating to impounding and custody of records under sub-section (8) of section 7; and
(f) any other matter which is required to be, or may be, prescribed.