Reserve Bank of India Act, 1934
Section - 45NA - Deposits not to be solicited by unauthorised persons
[Deposits not to be solicited by unauthorised persons.
45NA
. 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.] |
CAclubindia
