Under Section 2(5) of the Banning of Unregulated Deposit Schemes Act, 2019, "depositor" means:
Section 2(5) defines "depositor" as any person "who makes a deposit under this Act". A person who solicits or accepts deposits is a deposit taker under section 2(6), not a…
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Under Section 2(5) of the Banning of Unregulated Deposit Schemes Act, 2019, "depositor" means:
Answer and explanation
Correct answer B
Section 2(5) defines "depositor" as any person "who makes a deposit under this Act". A person who solicits or accepts deposits is a deposit taker under section 2(6), not a depositor.