Section 79C: Request for information
This section is inserted by The Finance Act 2025, section 10.
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
79C. Request for information
(1) The Registrar may, in the discharge of his functions under this
Act, require a credit union to furnish it with any information and produce any
record or document within such time and at such place as he may determine.
(2) A credit union referred to in subsection (1) shall, immediately,
comply with any request under subsection (1).
(3) The Registrar may require any information or document
furnished to him to be verified or authenticated in such manner as he may
determine, and at the expense of the credit union.
(4) A credit union that fails to comply with this section shall commit
an offence and shall, on conviction, be liable to a fine not exceeding one million
rupees and to imprisonment for a term not exceeding 2 years.
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Questions this section answers
- Must a credit union comply immediately with a Registrar's request for information?
- What happens if a credit union fails to provide information the Registrar requested?