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Section 3 - Banning of Unregulated Deposit Schemes. - Banning of Unregulated Deposit Schemes Act, 2019Extract CHAPTER II BANNING OF UNREGULATED DEPOSIT SCHEMES 3. 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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