Para 4 - Manner of deposit - Investment Deposit Account Scheme, 1986

Manner of deposit. 4. (1) Every depositor making a deposit shall apply to the depos it office in Form A, or as near thereto as may be, together with the amount of deposit payable in the manner specified in sub-paragraph (3). (2) On receipt of an application for the first time under sub-paragraph (1), the deposit office shall open an account in the name of the depositor. (3) Every subsequent deposit shall be made into the deposit office at which the account stands by a crossed cheque or demand draft drawn in favour of such office on a bank situated at the place where the deposit office is situated. (4) Every deposit shall be evidenced by a receipt issued in Form B, or as near thereto as may be, by the deposit office. (5) The deposit office shall issue to the depositor a statement of account in Form C, or as near thereto as may be, on the expiry of each quarter ending on 30th June, 30th September, 31st Decem ber and 31st March in a year showing the amount of deposits made during the quarter previous to the quarter to which the statement relates.