Section 5. Wrongful inducement in relation to Unregulated Deposit Schemes

Review the original statutory text or switch to the plain-language version. Related sections and acts remain accessible without interrupting your research flow.

Act: Banning of Unregulated Deposit Schemes Act, 2019
Section number: 5

Section reader

5. Wrongful inducement in relation to Unregulated Deposit Schemes.-

No person by whatever name called shall knowingly make any statement, promise or forecast which is false, deceptive or misleading in material facts or deliberately conceal any material facts, to induce another person to invest in, or become a member or participant of any Unregulated Deposit Scheme.