Banning of Unregulated Deposit Schemes
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.