The Banning of Unregulated Deposit Schemes Rules, 2020
10. Authorisation for search and seizure.-
For the purpose of an investigation into any offence under the Act, the officer-in-charge of a police station may, with the written authorisation, search for the following, namely:-
(a) any record, whether physical or electronic, which is used, intended to be used, or suspected to be used, in connection with the promotion or operation of an Unregulated Deposit Scheme;
(b) any books of account maintained in connection with an Unregulated Deposit Scheme;
(c) any deposits acquired or suspected to be acquired in connection with the promotion or operation of an Unregulated Deposit Scheme;
(d) any valuable securities maintained or suspected to be maintained in connection with the promotion or operation of an Unregulated Deposit Scheme;
(e) record of any property, whether movable or immovable, acquired either in the name of the deposit taker or in the name of any other person on behalf of the deposit taker, which is suspected to be acquired in connection with an Unregulated Deposit Scheme;
(f) record of any account with a bank or financial or market establishment, which is suspected to be used in connection with an Unregulated Deposit Scheme; and
(g) any other thing which is suspected to be used in connection with an Unregulated Deposit Scheme.
Back
