PART II - ACCEPTANCE OF PUBLIC DEPOSITS
Restrictions on acceptance of public deposits by mutual benefit financial companies
3. (1) deleted
(2) The provisions contained in these directions shall not apply to a Mutual Benefit Financial Company or a Mutual Benefit Company;
Provided that the application of Mutual Benefit Company is not rejected by Government of India under the provisions of the Companies Act, 1956 ( Act 1 of 1956). |