compulsory deposit definition
compulsory deposit means a subscription to, or deposit in, a Provident Fund which, under the rules of the Fund, is not, until the happening of some specified contingency, repayable on demand otherwise than for the purpose of the payment of premia in respect of a policy of life insurance or the payment of subscription or premia in respect of a family pension fund, and includes any contribution and any interest or increment which has accrued under the rules of the Fund on any such subscription, deposit or contribution, and also any such subscription, deposit, contribution, interest or increment remaining to the credit of the subscriber or depositor after the happening of any such contingency;
compulsory deposit means a deposit which an employee is under this Act required to make to the Fund;
compulsory deposit means a sum of money that a borrower is obligated to deposit with a Microfinance Institution as a condition for receiving a loan or as collateral for a loan either as a percentage of the loan or as a nominal amount. The sum may be withdrawn by the borrower immediately upon repayment of the loan.
More Definitions of compulsory deposit
compulsory deposit means compulsory deposit under this Act;
compulsory deposit means a deposit made under regulation 7; “Corporation” means the Kenya Railways Corporation; “deposit” means a deposit to the Fund;
compulsory deposit means a sum of money that is required to be deposited by a borrower of a Savings and Credit Union as a condition for receiving a loan or as collateral for a loan either as a percentage of the loan or as a nominal amount. The sum may be withdrawn by the borrower immediately upon repayment of the loan.
compulsory deposit means a subscription or deposit which is not repayable on the demand, or at the option, of the subscriber or depositor, and includes any contribution which may have been credited in respect of, and any interest or increment which may have accrued on, such subscription or deposit under the rules of the Fund.