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GEN A1.1.1



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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) A DepositG means a sum of money paid on terms:
(a) under which it will be repaid, with or without interest or a premium, and either on demand or at a time or in circumstances agreed by or on behalf of the PersonG making the payment and the PersonG receiving it; and
(b) which is not referable to the provision of property (other than currency) or services or the giving of security.
(2) In (1) money is paid on terms which are referable to the provision of property or services or the giving of security if:
(a) it is paid by way of advance or part payment under a contract for the sale, hire or other provision of property or services, and is repayable only in the event that the property or services are not in fact sold, hired or otherwise provided;
(b) it is paid by way of security for the performance of a contract or by way of security in respect of loss which may result from the non-performance of a contract; or
(c) without prejudice to (b), it is paid by way of security for the delivery up of property, whether in a particular state of repair or otherwise.

Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]