Prohibition on cash loans and deposits: accepting disallowed loans triggers criminal punishment and equivalent fine. Taking or accepting a loan or deposit in contravention of the statutory prohibition on certain cash transactions attracts criminal liability and a ... Summary
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Prohibition on cash loans and deposits: accepting disallowed loans triggers criminal punishment and equivalent fine.
Taking or accepting a loan or deposit in contravention of the statutory prohibition on certain cash transactions attracts criminal liability and a monetary penalty, with prescribed imprisonment up to two years and a fine equal to the amount of the loan or deposit; the provision has undergone insertion, amendment and later omission in legislative history.
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