Deposit receipt requirements: companies must issue signed receipts detailing deposit terms and cannot alter those terms afterward. Companies must provide a deposit receipt to the depositor or agent within the prescribed period after acceptance or renewal; the receipt must be signed by ... Summary
Deposit receipt requirements: companies must issue signed receipts detailing deposit terms and cannot alter those terms afterward.
Companies must provide a deposit receipt to the depositor or agent within the prescribed period after acceptance or renewal; the receipt must be signed by an authorised officer and state the date of deposit, depositor's name and address, amount received, rate of interest payable and the repayment date. Companies may not reserve any right, directly or indirectly, to alter the terms of an accepted deposit to the depositor's prejudice.
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