Section 5 of the Banning of Unregulated Deposit Schemes Act, 2019 applies to:
Section 5 opens "No person by whatever name called shall knowingly" make a false statement or conceal material facts to induce investment in an Unregulated Deposit Scheme.…
Choose your answer
Section 5 of the Banning of Unregulated Deposit Schemes Act, 2019 applies to:
Answer and explanation
Correct answer C
Section 5 opens "No person by whatever name called shall knowingly" make a false statement or conceal material facts to induce investment in an Unregulated Deposit Scheme. It therefore reaches agents, promoters and anyone else, not just deposit takers or their directors.