A prize chit or a money circulation
scheme banned under the provisions of the Prize Chits and Money Circulation Scheme (Banning) Act,
1978 (43 of 1978) shall be deemed to be an Unregulated Deposit Scheme under this Act.
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Section 6
Certain Scheme to Be Unregulated Deposit Scheme.
The Banning of Unregulated Deposit Schemes Act, 2019