Section 27
of Banking and Financial Institutions Act 1989
ActIn forceProvision 28 of 144
Section 27
No person, other than a licensed bank, a licensed finance company, a licensed merchant bank or a licensed discount house, shall issue or publish, or otherwise facilitate any person to issue or publish, an advertisement containing—
(a)
an invitation to make a deposit or enter into or offer to enter into any agreement to make a deposit; or
(b)
information which is intended or might reasonably be presumed to be intended to lead directly or indirectly to the making of a deposit:
Provided that the above prohibition shall not apply to the publication by any person of any such advertisement for or on behalf of a licensed institution as mentioned above.