Trustee Savings Banks Act, 1989

Prohibition on carrying on of business of a trustee savings bank without a licence.

11.—(1) A person, other than a person authorised so to do by a licence, shall not, on his own behalf or on behalf of any other person in or outside the State, carry on the business of a trustee savings bank or hold himself out or represent himself as carrying on such a business.

(2) For the purposes of this section, a person shall be deemed to hold himself out as carrying on the business of a trustee savings bank if he does an act specified in section 14 (2).

(3) A person who contravenes this section shall be guilty of an offence.