INDIA CODE

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Section 40, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9B2]

As at 6 September 2026. In force from 4 June 2019.

In Banning of Unregulated Deposit Schemes Act, 2019 [A11-PAS]. This text from 4 June 2019. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 40, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9B2]. Machine: S29-9B2.

40. Prohibition of the enforcement of security interest without licence.—No person shall undertake the enforcement of security interest except under and in accordance with the conditions of a licence granted under section 41: Provided that nothing in this section shall apply to the enforcement of security interest undertaken by or on behalf of the Central Government or a State Government.

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Section 40, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9B2]