Any scheme added to the First Schedule under Section 40 of the Banning of Unregulated Deposit Schemes…
Section 40(1) of the BUDS Act provides that on addition to the First Schedule, a scheme or arrangement becomes a Regulated Deposit Scheme, not an Unregulated Deposit Scheme,…
Choose your answer
Any scheme added to the First Schedule under Section 40 of the Banning of Unregulated Deposit Schemes Act, 2019 becomes:
Answer and explanation
Correct answer B
Section 40(1) of the BUDS Act provides that on addition to the First Schedule, a scheme or arrangement becomes a Regulated Deposit Scheme, not an Unregulated Deposit Scheme, an automatically illegal scheme, or a private contract.