A deposit taker contravening Section 4 of the Banning of Unregulated Deposit Schemes Act, 2019 may be…
Under section 22 of the BUDS Act, a deposit taker contravening section 4 may be punished with imprisonment for a term which may extend to seven years, not a fixed five, a…
Choose your answer
A deposit taker contravening Section 4 of the Banning of Unregulated Deposit Schemes Act, 2019 may be punished with imprisonment:
Answer and explanation
Correct answer B
Under section 22 of the BUDS Act, a deposit taker contravening section 4 may be punished with imprisonment for a term which may extend to seven years, not a fixed five, a mandatory minimum of seven, or up to ten years.