Section 2. Definitions

2. Definitions.— (1) In this Act, unless the context otherwise requires, — (a) "Adjudicating Authority" means an Adjudicating Authority appointed under sub-section (1) of section 6; (b) "Appellate Tribunal" means the Appellate Tribunal[2] [referred to in] section 25; (c) "Assistant Director" means an Assistant Director appointed under sub-section (1) of section 49; (d) "attachment" means prohibition of transfer, conversion, disposition or movement of property by an order issued under Chapter III; 3 [(da) "authorised person" means an authorised person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999);] (e) "banking company" means a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies and includes any bank or banking institution referred to in section 51 of that Act; (f) "Bench" means a Bench of the Appellate Tribunal; 4[( fa) "beneficial owner" means an individual who ultimately owns or controls a client of a reporting entity or the person on whose behalf a transaction is being conducted and includes a person who exercises ultimate effective control over a juridical person;] (g) "Chairperson" means the Chairperson of the Appellate Tribunal; (h) "chit fund company" means a company managing, conducting or supervising, as foreman, agent or in any other capacity, chits as defined in section 2 of the Chit Funds Act, 1982 (40 of 1982);