Q.Write a word or a term or a phrase which can substitute the following statement.
Agreement between company and Deposit Trustee.

The answer is Deposit Trust Deed — the agreement between the company and the deposit trustee.

When a company invites secured deposits, it must appoint one or more deposit trustees to safeguard depositors' interests. To formalise this, the company executes a Deposit Trust Deed with the trustee at least seven days before issuing the circular or advertisement inviting deposits.

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The odd one out is Government company, because it can accept deposits from the public while the other two can accept only from members.

Under the Companies Act, 2013, the right to accept deposits depends on the type of company. A private company and a non-eligible public company are restricted: they may accept deposits only from their own members under Section 73, not from the general public.

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