Act Number: 47

Act Name: The Deposit Insurance and Credit Guarantee Corporation Act, 1961

Year: 1961

Enactment Date: 1961-12-07

Long Title: An Act to provide for the establishment of a corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 19: Discharge of the liability of Corporation.
    Any amount paid by the Corporation under section 17 or section 18 1[or section 18A] in respect of a deposit shall, to the extent of the amount paid, discharge the Corporation from its liability in respect of that deposit.
Notes:
1. Ins. by Act 30 of 2021, s. 5 (w.e.f. 1-9-2021).
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