Substitution of new sections 3, 3A and 3B for section 3-Definitions- Framing of Savings Schemes- Deposit by minor

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....mely:- Definitions '3. In this Act, unless the context otherwise requires,- (a) "account" means an account opened under any of the Savings Schemes; (b) "administrator" means an administrator as defined in clause (a) of section 2 of the Indian Succession Act, 1925 (39 of 1925); (c) "Authorised Officer" means- (i) in the case of a Post Office Savings B....

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.... Office Savings Bank; or (ii) State Bank of India or a banking company, or any other company or institution, as the Central Government may, by notification in the Official Gazette, specify for the purposes of this Act; (h) "guardian", in relation to a minor or a person of unsound mind means- (i) either of the parents; (ii) where neither parent is alive or where ....

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...., frame new Savings Schemes or amend or discontinue existing Savings Schemes to promote household savings in the country. (2) The Central Government may, by notification in the Official Gazette, include or omit or amend Savings Schemes in the Schedule. (3) The notification referred to in sub-section (1) may include any or all of the following provisions, depending on the design of such Schem....