The Banning of Unregulated Deposit Schemes Act, 2019
Section 6. Certain scheme to be Unregulated Deposit Scheme.
A prize chit or a money circulation scheme banned under the provisions of the Prize Chits and Money Circulation Scheme (Banning) Act, 1978 (43 of 1978) shall be deemed to be an Unregulated Deposit Scheme under this Act.
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