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 20: Provision for unpaid amounts.
    Where any depositor to whom any payment is to be made in accordance with the provisions of section 17 or section 18 1[or section 18A] cannot be found or is not readily traceable, adequate provision shall be made by the Corporation for such payment and the amount of such provision shall be accounted for separately in its books.
Notes:
1. Ins. by Act 30 of 2021,s. 6 (w.e.f. 1-9-2021).
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