Designated currencies: deposit acceptance limited to regulator designated currencies and to term deposit form specified by regulator. Deposits may be accepted only in currencies designated by the Reserve Bank from time to time, and such accounts may be opened only as term deposits with maturities specified by the Reserve Bank from time to time; the amendment to Schedule 2 takes effect from July 26, 2005, with a clarification that retrospective effect will not adversely affect any person.
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Provisions expressly mentioned in the judgment/order text.
Designated currencies: deposit acceptance limited to regulator designated currencies and to term deposit form specified by regulator.
Deposits may be accepted only in currencies designated by the Reserve Bank from time to time, and such accounts may be opened only as term deposits with maturities specified by the Reserve Bank from time to time; the amendment to Schedule 2 takes effect from July 26, 2005, with a clarification that retrospective effect will not adversely affect any person.
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