THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019 · BANNING OF UNREGULATED DEPOSIT SCHEMES.
Section 4 — Fraudulent default in Regulated Deposit Schemes
No deposit taker, while accepting deposits pursuant to a Regulated Deposit Scheme, shall commit any fraudulent default in the repayment or return of deposit on maturity or in rendering any specified service promised against such deposit.