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You are here: BAILII >> Databases >> Northern Irish Legislation >> PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 |
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Definitions of deposit, advertisement, etc. 26.(1) In this Act "deposit" means a loan of money at interest, or repayable at a premium, but does not include (a)a loan to a company or other body corporate upon terms involving the issue of debentures or other securities; or (b)a loan by a body corporate, firm or other person whose ordinary business includes the business of banking, or who carried on a business of such other class or description as may be prescribed by regulations of the Ministry; (2) For the purposes of this Act a company shall be taken to be retaining money deposited with the company if it owes any sum (whether on account of principal, interest or premium, and whether immediately payable or not) in respect of any such money. (3) In this Act "advertisement" includes every form of advertising, whether in a publication or by the display of notices or by means of circulars or other documents or by an exhibition of photographs or cinematograph films, or by way of sound broadcasting or television, and references to the issue of an advertisement shall be construed accordingly; and for the purposes of this Act an advertisement issued by any person by way of display or exhibition in a public place shall be treated as issued by him on every day on which he causes or permits it to be so displayed or exhibited. (4) For the purposes of this Act an advertisement which contains information calculated to lead directly or indirectly to the deposit of money by the public shall be treated as an advertisement inviting the public to deposit money. (5) For the purposes of this Act, an advertisement issued by any person on behalf of or to the order of another person shall be treated as an advertisement issued by that other person; and for the purposes of any proceedings under this Act, an advertisement inviting the public to deposit money with a person specified in the advertisement shall be presumed, unless the contrary is proved, to have been issued by that person. (6) Regulations under subsection (1) shall be subject to negative resolution.
© 1964 Crown Copyright
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URL: http://www.bailii.org/nie/legis/num_act/podai1964455/s26.html