This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
1. Accepting deposits is a controlled activity if—
(a)money received by way of deposit is lent to others; or
(b)any other activity of the person accepting the deposit is financed wholly, or to a material extent, out of the capital of or interest on money received by way of deposit,
and the person accepting the deposit holds himself out as accepting deposits on a day to day basis.
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