48. Authorities under Act.—

There shall be the following classes of authorities for the purposes of  this Act, namely:— 

(a) Director or Additional Director or Joint Director,  

(b) Deputy Director, 

(c) Assistant Director, and 

(d) such other class of officers as may be appointed for the purposes of this Act. 

49. Appointment and powers of authorities and other officers.—

(1) The Central Government may  appoint such persons as it thinks fit to be authorities for the purposes of this Act. 

(2) Without prejudice to the provisions of sub-section (1), the Central Government may authorise the Director or an Additional Director or a Joint Director or a Deputy Director or an Assistant Director  appointed under that sub-section to appoint other authorities below the rank of an Assistant Director. 

(3) Subject to such conditions and limitations as the Central Government may impose, an authority  may exercise the powers and discharge the duties conferred or imposed on it under this Act. 

50. Powers of authorities regarding summons, production of documents and to give evidence,  etc.—

(1) The Director shall, for the purposes of section 13, the words "have the same powers as are vested in an agency under the Delhi Special Police Establishment Act, 1946" while trying a suit in respect of the following  matters, namely:— 

(a) discovery and inspection;

(b) enforcing the attendance of any person, including any officer of a 1[reporting entity] and  examining him on oath; 

(c) compelling the production of records; 

(d) receiving evidence on affidavits; 

(e) issuing commissions for examination of witnesses and documents; and 

(f) any other matter which may be prescribed. 

(2) The Director, Additional Director, Joint Director, Deputy Director or Assistant Director shall have  power to summon any person whose attendance "is necessary to" give evidence or to  produce any records during the course of any investigation or proceeding under this Act. 

(3) All the persons so summoned shall be bound to attend in person or through authorised agents, as  such officer may direct, and shall be bound to state the truth upon any subject respecting which they are  examined or make statements, and produce such documents as may be required. 

(4) ***

(5) Subject to any rules made in this behalf by the Central Government, any officer referred to in  sub-section (2) may impound and retain in his custody for such period, as he thinks fit, any records  produced before him in any proceedings under this Act: 

Provided that an Assistant Director or a Deputy Director shall not— 

(a) impound any records without recording his reasons for so doing; or 

(b) retain in his custody any such records for a period exceeding three months, without obtaining  the previous approval of the 2[ Court"]. 

1. Subs. by Act 2 of 2013, s. 22, for “banking company or a financial institution or a company,” (w.e.f. 15-2-2013).

2. Subs. by Act 13 of 2018, s. 208, for “Director” (w.e.f. 19-4-2018).

51. Jurisdiction of authorities.—

(1) The authorities shall exercise all or any of the powers and  perform all or any of the functions conferred on, or, assigned, as the case may be, to such authorities by or  under this Act or the rules framed thereunder in accordance with such directions as the Central  Government may issue for the exercise of powers and performance of the functions by all or any of the  authorities. 

(2) In issuing the directions or orders referred to in sub-section (1), the Central Government may have  regard to any one or more of the following criteria, namely:— 

(a) territorial area; 

(b) classes of persons; 

(c) classes of cases; and 

(d) any other criterion specified by the Central Government in this behalf. 

52. Power of Central Government to issue directions, etc.—

The Central Government may, from  time to time, issue such orders, instructions and directions to the authorities as it may deem fit for the  proper administration of this Act and such authorities and all other persons employed in execution of this  Act shall observe and follow such orders, instructions and directions of the Central Government:  

Provided that no such orders, instructions or directions shall be issued so as to—

(a) require any authority to decide a particular case in a particular manner; or 

(b) interfere with the discretion of the Adjudicating Authority in exercise of his functions.

53. Empowerment of certain officers.—

The Central Government may, by a special or general order,  empower an officer not below the rank of Director of the Central Government or of a State Government  to act as an authority under this Act: 

Provided that the Central Government may empower an officer below the rank of Director if the  officer of the rank of the Director or above are not available in a particular area. 

54. Certain officers to assist in inquiry, etc.—

The following 1[officers and others] are hereby  empowered and required to assist the authorities in the enforcement of this Act, namely:—

(a) officers of the Customs and Central Excise Departments; 

(b) officers appointed under sub-section (1) of section 5 of the Narcotic Drugs and Psychotropic  Substances Act, 1985 (61 of 1985);  

(c) income-tax authorities under sub-section (1) of section 117 of the Income-tax Act, 1961 (43 of  1961); 

2[(d) members of the recognised stock exchange referred to in clause (f) of section 2 and the  officers of the stock exchanges recognised under section 4 of the Securities Contracts (Regulation)  Act, 1956 (42 of 1956);] 

(e) officers of the Reserve Bank of India constituted under sub-section (1) of section 3 of the  Reserve Bank of India Act, 1934 (2 of 1934); 

(f) officers of Police; 

(g) officers of enforcement appointed under sub-section (1) of section 36 of the Foreign Exchange  Management Act, 1999 (40 of 1999); 

(h) officers of the Securities and Exchange Board of India established under section 3 of the  Securities and Exchange Board of India Act, 1992 (15 of 1992); 

3[(ha) officers of the Insurance Regulatory and Development Authority established under section  3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999); 

(hb) officers of the Forward Markets Commission established under section 3 of the Forward  Contracts (Regulation) Act, 1952 (74 of 1952); 

(hc) officers and members of the recognised association recognised under section 6 of the  Forward Contracts (Regulation) Act, 1952 (74 of 1952); 

(hd) officers of the Pension Fund Regulatory and Development Authority; 

(he) officers of the Department of Posts in the Government of India; 

(hf) Registrars or Sub-Registrars appointed by the State Governments under section 6 of the  Registration Act, 1908 (16 of 1908); 

(hg) registering authority empowered to register motor vehicles under Chapter IV of the Motor  Vehicles Act, 1988 (59 of 1988); 

(hh) officers and members of the Institute of Chartered Accountants of India constituted under  section 3 of the Chartered Accountants Act, 1949 (38 of 1949); 

(hi) officers and members of the Institute of Cost and Works Accountants of India constituted  under section 3 of the Cost and Works Accountants Act, 1959 (23 of 1959); 

(hj) officers and members of the Institute of Company Secretaries of India constituted under  section 3 of the Company Secretaries Act, 1980 (56 of 1980);] 

(i) officers of any other body corporate constituted or established under a Central Act or a State  Act; 

(j) such other officers of the Central Government, State Government, local authorities or 1[reporting entities] as the Central Government may, by notification, specify, in this behalf.

1. Subs. by Act 2 of 2013, s. 23 for “officers” (w.e.f. 15-2-2013).

2. Subs. by s. 23, ibid., for clause (d) (w.e.f. 15-2-2013).

3. Ins. by s. 23, ibid. (w.e.f. 15-2-2013).

1. Subs. by Act 2 of 2013, s. 23, for “banking companies” (w.e.f. 15-2-2013).