Section 3Central Act
Section 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.
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