Section 8, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29-VA2]
As at 7 September 2026. In force from 16 March 2020.
8. Powers of authorised officer.—(1) The authorised officer may, for the purpose of ascertaining whether the provisions of this Act or the rules made thereunder are being complied with, at all reasonable times enter any premises where the making of deposits is carried on, inspect any security interest found therein, and require the production of any record or register maintained under this Act. (2) The authorised officer may seize any security interest in respect of which he has reason to believe that an offence under this Act has been committed. (3) The provisions of the Code of Criminal Procedure, 1973 (2 of 1974) shall, so far as may be, apply to any search or seizure under this section.
Defined terms in this text (1)
security interest: Section 2, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29V4Y] (In this Act, unless the context otherwise requires,—): "security interest" means right, title or interest of any kind upon property created in favour of a secured creditor
security interest: 17 more definitions.
Made under this section, or naming it (0)
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Cited by (0)
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Not held (0)
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