Executive Summary:
This document outlines the Specified Bank Notes Deposit of Confiscated Notes Rules, 2017, which dictate the procedure for depositing specified bank notes confiscated or seized on or before December 30, 2016. The rules, effective from the date of their publication in the Official Gazette, detail the conditions under which confiscated notes can be deposited or exchanged. These rules are issued by the Ministry of Finance, Department of Economic Affairs.
Key Points / Main Content:
* **Short Title and Commencement:**
* These rules are called the Specified Bank Notes Deposit of Confiscated Notes Rules, 2017.
* They came into force on the date of their publication in the Official Gazette (May 12, 2017).
* **Deposit of Confiscated Specified Bank Notes:**
* Specified bank notes confiscated/seized by law enforcement or produced before a court on/before December 30, 2016, can be tendered for deposit or exchange.
* Tendering must be done at any office of the Reserve Bank or a nationalised bank designated by the Reserve Bank.
* Deposit or exchange is subject to specific conditions:
* If the court returns notes to a party in a pending case, that person can deposit/exchange them, provided the serial numbers were noted by the law enforcement agency and are in the court's direction.
* If the notes are forfeited to the Central/State Government, that Government can deposit/exchange them upon producing the court's direction.
* If the notes are in the custody of a person by court order on/before December 30, 2016, that person can deposit/exchange them, provided the serial numbers were noted by the law enforcement agency and are in the court's direction.
* **Non-Applicability:**
* These rules do not apply to specified bank notes confiscated/seized after December 30, 2016.
Impact Analysis:
* **Law Enforcement Agencies:**
* Impact: Agencies that confiscated or produced specified bank notes before a court on or before December 30, 2016, need to have noted the serial numbers of those notes to enable deposit or exchange.
* Action Required: Ensure serial numbers of confiscated specified bank notes are properly recorded and provided when those notes are subject to court direction.
* **Courts:**
* Impact: Courts must provide clear directions specifying the serial numbers of specified bank notes when returning them to a party, ordering forfeiture to the Government, or placing them in someone's custody.
* Action Required: Include the serial numbers of the specified bank notes in the court's direction to facilitate deposit or exchange.
* **Individuals/Parties in Court Cases:**
* Impact: Individuals who receive specified bank notes back from the court (notes confiscated before December 30, 2016) are entitled to deposit or exchange those notes. People who had specified bank notes placed in their custody by the court on or before December 30, 2016, are entitled to deposit or exchange those notes.
* Action Required: Produce the court's direction to deposit or exchange notes, ensuring the serial numbers match the law enforcement agency's record and the court's direction.
* **Central Government and State Governments:**
* Impact: Central and State Governments are entitled to deposit or exchange specified bank notes forfeited in their favour by a court order.
* Action Required: Produce the court's direction to deposit or exchange the forfeited notes.
* **Reserve Bank of India (RBI) and Nationalised Banks:**
* Impact: These entities are responsible for accepting deposits or exchanging specified bank notes under the conditions specified in the rules.
* Action Required: Ensure offices are prepared to accept deposits or exchanges of specified bank notes according to the rules, subject to the presentation of a relevant court order.
Key Entities Referenced
Specified Bank Notes Cessation of Liabilities Act, 2017: A law concerning the cessation of liabilities related to specified bank notes.
Central Government: The executive authority of India.
Specified Bank Notes Deposit of Confiscated Notes Rules, 2017: Rules governing the deposit of confiscated specified bank notes.
Reserve Bank: Referring to Reserve Bank of India, the central bank of India.
Ministry of Finance: The ministry responsible for the financial matters of India.
Department of Economic Affairs: A department under the Ministry of Finance.
New Delhi: The capital city of India and location of publication.
State Government: The executive authority of a State in India.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (i)
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PUBLISHED BY AUTHORITY
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No. 365] NEW DELHI, FRIDAY, MAY 12, 2017/VAISAKHA 22, 1939
िव(cid:7275) म(cid:7074)ं ालय
(आिथकर् काय र्िवभाग)
अिधसूचना
नई िदल्ली, 12 मई, 2017
सा.का.िन. 460(अ).—क(cid:7286)(cid:7076)ीय सरकार, िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट (दाियत् व(cid:7298) की समािप् त) अिधिनयम, 2017 (2017 का 2)
की धारा 5 के परंतुक के खंड (ग) के साथ पिठत धारा 11 की उपधारा (1) (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते हुए,
िनम् निलिखत िनयम बनाती है, अथार्त् :—
1. सिं क्षप्त नाम और (cid:7079)ारंभ.—(1) इन िनयम(cid:7298) का संिक्षप् त नाम िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट (अिधहरण िकए गए नोट(cid:7298) का जमा
िकया जाना) िनयम, 2017 ह ै।
(2) यह उनके राजप(cid:7074) म(cid:7286) (cid:7079)काशन की तारीख को (cid:7079)वृत् त ह(cid:7298)गे ।
2. अिधहरण िकए गए िविन(cid:7416)दष्र् ट नोट(cid:7298) का जमा िकया जाना.—जहां िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट(cid:7298) का िविध (cid:7079)वतर्न अिभकरण(cid:7298)
(cid:7367)ारा अिधहरण िकया गया ह ै या अिभ(cid:7061)हण िकया गया ह ै या 30 िदसंबर, 2016 को या उससे पूवर् िकसी न् यायालय के समक्ष
(cid:7079)स् तुत िकया गया ह,ै तो ऐसे िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट(cid:7298) को अिधिनयम की धारा 4 की उपधारा (1) के अधीन िविन(cid:7416)दर्ष् ट िरजवर् ब(cid:7289)क
के िकसी कायार्लय म(cid:7286) या उक् त (cid:7079)योजन के िलए िरजवर् ब(cid:7289)क (cid:7367)ारा अिभिहत राष् (cid:7069)ीयकृत ब(cid:7289)क म(cid:7286) िकसी ब(cid:7289)क खाते म(cid:7286) जमा करने के
िलए या वैध मु(cid:7076)ा म(cid:7286) उनके मूल् य म(cid:7286) िविनमय के िलए िनम् निलिखत शत(cid:7300) के अधीन रहते हुए िदया जा सकेगा, अथार्त् :--
(क) अिधहरण िकए गए िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट(cid:7298) को िकसी व् यिक् त को लौटाया जाता ह ै जो उस न् यायालय के समक्ष
लंिबत मामले म(cid:7286) एक पक्षकार ह ै तब व् यिक् त न् यायालय के िनदशे को (cid:7079)स् तुत करने पर ऐसे िविन(cid:7416)दर्ष् ट ब(cid:7289)क नोट(cid:7298) को जमा
करने या िविनमय करने का हकदार होगा, िजनकी (cid:7059)म संख् या,--
(i) को उस िविध (cid:7079)वतर्न अिभकरण (cid:7367)ारा, िजसने उनका अिधहरण िकया था या न् यायालय के समक्ष
(cid:7079)स् तुत िकया ह,ै नोट कर िलया गया ह ै; और
(ii) का न् यायालय के िनदशे पर वणर्न िकया गया ह ै;
3125 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(ख) िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट(cid:7298) का क(cid:7286)(cid:7076)ीय सरकार या राज् य सरकार के पक्ष म(cid:7286) न् यायालय के िकसी आदेश (cid:7367)ारा
समपहरण िकए जाने की दशा म(cid:7286) वह सरकार न् यायालय के िनदशे को (cid:7079)स् तुत करने पर ऐसे िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट(cid:7298) को जमा
करने या उनका िविनमय करने की हकदार होगी ; या
(ग) िविन(cid:7416)दर्ष् ट ब(cid:7289)क नोट(cid:7298) को 30 िदसंबर, 2016 को या उससे पूवर् न् यायालय के आदशे (cid:7367)ारा िकसी अन् य व् यिक् त
की अिभरक्षा म(cid:7286) रखे जाने की दशा म(cid:7286) वह व् यिक् त न् यायालय के िनदशे को (cid:7079)स् तुत करने पर ऐसे िविन(cid:7416)दर्ष् ट ब(cid:7289)क नोट(cid:7298) को
जमा करने या िविनमय करने का हकदार होगा, िजनकी (cid:7059)म संख् या,--
(i) को उस िविध (cid:7079)वतर्न अिभकरण (cid:7367)ारा, िजसने उनका अिधहरण िकया था या न् यायालय के समक्ष
(cid:7079)स् तुत िकया था, नोट कर िलया गया ह ै; और
(ii) का न् यायालय के िनदशे पर वणर्न िकया गया ह ै।
3. कितपय मामल(cid:7298) म (cid:7286) इन िनयम(cid:7298) का लागू न होना.—ये िनयम 30 िदसंबर, 2016 के पश् चात् अिधहरण िकए गए या
अिभ(cid:7061)हण िकए गए िविन(cid:7416)दष्र् ट ब(cid:7289)क नोट(cid:7298) को लागू नह(cid:7277) ह(cid:7298)गे ।
[फा. सं. एस.-10/05/2017-सीवाई.1]
(cid:7079)वीण गगर्, संयुक् त सिचव
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 12th May, 2017
G.S.R. 460(E).— In exercise of the powers conferred by sub-section (1) of section 11, read with clause
(c) of the proviso to section 5, of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017),
the Central Government hereby makes the following rules, namely:—
1. Short title and commencement.— (1) These rules may be called the Specified Bank Notes (Deposit
of Confiscated Notes) Rules, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. Deposit of confiscated specified bank notes.— Where specified bank notes have been confiscated
or seized by a law enforcement agencies or produced before a court on or before the 30th day of December
2016, such specified bank notes may be tendered, at any office of the Reserve Bank specified under sub-
section (1) of section 4 of the Act or a nationalised bank designated by the Reserve Bank for the said purpose,
for deposit in a bank account or exchange of the value thereof with legal tender, subject to the following
conditions, namely:—
(a) in case confiscated specified bank notes are returned by the court to a person who is a party in
case pending before that court, then, the person shall be entitled, on production of the direction of the
court, to deposit or exchange such specified bank notes, the serial numbers of which—
(i) have been noted by the law enforcement agency which confiscated or produced them
before the court; and
(ii) are mentioned in the direction of the court;
(b) in case specified bank notes are forfeited in favour of the Central Government or the State
Government by an order of the court, then, that Government shall be entitled, on production of the
direction of the court, to deposit or exchange such specified bank notes; or¹Hkkx IIμ[k.M 3 (i)º Hkkjr dk jkti=k % vlk/kj.k 3
(c) in case specified bank notes are placed in custody of any other person by an order of the court
on or before the 30th day of December, 2016, then, the person shall be entitled, on production of the
direction of the court, to deposit or exchange such specified bank notes, the serial numbers of which—
(i) have been noted by the law enforcement agency which confiscated or produced them
before the court; and
(ii) are mentioned in the direction of the court.
3. These rules not to apply in certain cases.— These rules shall not apply to specified bank notes
confiscated or seized after the 30th day of December, 2016.
[F. No. S-10/05/2017-Cy.I]
PRAVEEN GARG, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.