Section 45NA
Deposits not to be solicited by unauthorised person.
The Reserve Bank of India Act, 1934
About this Act
An Act to Constitute a Reserve Bank of India.
1[45NA. Deposits not to be solicited by unauthorised person.--No person shall solicit on behalf of
any non-banking institution either by publishing or causing to be published any prospectus or
advertisement or in any other manner deposits of money from the public unless
(a) he has been authorised in writing by the said non-banking institution to do so and specifies the name of the institution which has so authorised him, and
(b) the prospectus or advertisement complies with any order made by the Bank under section 45J and with any other provision of law for the time being in force, applicable to the publication of such prospectus or advertisement.]
(a) he has been authorised in writing by the said non-banking institution to do so and specifies the name of the institution which has so authorised him, and
(b) the prospectus or advertisement complies with any order made by the Bank under section 45J and with any other provision of law for the time being in force, applicable to the publication of such prospectus or advertisement.]
Notes
1. Ins. by s. 21, ibid. (w.e.f. 13-12-1974).