Term deposit pledge prohibition: term deposits cannot be used to secure loans under the bank term deposit scheme. The Bank Term Deposit Scheme provides a scheme-based restriction that the term deposit shall not be pledged to secure loan or as security to any other asset, prohibiting use of qualifying term deposits as collateral and affecting pleadings and compliance regarding their treatment under the Scheme.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Term deposit pledge prohibition: term deposits cannot be used to secure loans under the bank term deposit scheme.
The Bank Term Deposit Scheme provides a scheme-based restriction that the term deposit shall not be pledged to secure loan or as security to any other asset, prohibiting use of qualifying term deposits as collateral and affecting pleadings and compliance regarding their treatment under the Scheme.
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