AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

4. Power to call for information.-

(1) Where under 7[paragraph (b) of section 3 of Article IV or] section 5 of Article VIII of the Fund Agreement, the International Fund requires the Central Government to furnish it with any information, the Central Government, or if generally or specially authorised by the Central Government in this behalf, the Reserve Bank, may by order in writing require any peson to furnish to such officer or other person as may be specified in the order such detailed information as the Central Government or the Reserve Bank, as the case may be, may determine to be essential for the purpose of complying with the request of the International Fund; and any person so required shall be bound to furnish such information.

(2) Every officer or person to whom any information is required to be furnished under this section shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code (45 of 1860).

(3) No information obtained under this section shall be furnished to the International Fund in such detail as to disclose the affairs of any person 8***.

(4) A determination of the Central Government or the Reserve Bank under sub-section (1) as to the extent of detail in which information is to be furnished shall be final, and in any prosecution under section 176 or section 177 of the Indian Penal Code (45 of 1860) in respect of any information required to be furnished under this section, it shall not be a defence to assert that the information was required to be furnished in greater detail than was essential for the purpose of complying with the request of the International Fund.

(5) No prosecution for an offence in respect of any information required to be furnished under this section shall be instituted except with the previous sanction of the Central Government.

1. Ins by Act 41 of 1969, s. 2 (w.e.f. 26-12-1981).

2. Subs. by Act 67 of 1982, s. 2, for "Article XXVI" (w.e.f. 15-1-1983).

3. Subs. by s. 2, ibid., for "Schedule D or Schedule E" (w.e.f. 15-1-1983).

4. Subs. by s. 2, ibid., for "section 5" (w.e.f. 15-1-1983).

5. The word "British" omitted by Act 48 of 1952, s. 3 and Sch. II. 6. Ins. by Act 41 of 1969, s. 3 (w.e.f. 26-12-1981).

7. Ins. by Act 67 of 1982, s. 3 (w.e.f. 15-1-1983).

8. Certain words omitted by s. 3, ibid. (w.e.f. 15-1-1983).



International Monetary Fund and Bank Act, 1945 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys