PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 26 Definitions of deposit, advertisement, etc.

	[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here: BAILII >> Databases >> Northern Irish Legislation >> PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 26

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.

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/podai1964455/s26.html

Northern Irish Legislation

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 26