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Section 3 - Banning of Unregulated Deposit Schemes Act, 2019
Chapter II
Banning of Unregulated Deposit Schemes
3. Banning of Unregulated Deposit Schemes.-
On and from the date of commencement of this Act,-
(a) the Unregulated Deposit Schemes shall be banned; and
(b) no deposit taker shall, directly or indirectly, promote, operate, issue any advertisement soliciting participation or enrolment in or accept deposits in pursuance of an Unregulated Deposit Scheme.
Related Sections
Related Acts
- National Commission for Backward Classes (Repeal) Act, 2018
- National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Act, 2019
- Farm Laws Repeal Act, 2021
- International Financial Services Centres Authority Act, 2019
- National Bank for Agriculture and Rural Development (Amendment) Act, 2017
* Only for reference.