Preliminary (1 to 2)

In exercise of the powers conferred by Section 89 of the Chit Funds Act, 1982 (Central Act 40 of 1982), the governor of Tamil Nadu, I consultation with the Reserve Bank of India, hereby makes the following rules.

Chapter 1

Preliminary

1.Short title –(1) These rules may be called the Tamil Nadu Chit Funds Rules, 1984.

(2) They shall come into force on the 13th April, 1984.

2.Definitions—In these rules, unless the context otherwise requires, --

(a) “Act” means the Chit Funds Act, 1982, (Central Act 40 of 1982;

(b) “appendix” means Appendix I or, as the case may be, Appendix II to these rules:

(c)” authorized agent” means a person duly authorized by power of attorney executed and authenticated in the manner specified in Section 33 of the registration Act, 1908 (Central Act XIV of 1908) or a person authorized by a duly stamped power of attorney or a letter of authorization specified in Form XX by the person concerned;

(d) “form” means a form in Appendix I to these Rules;

(e) “Section” means a section of the Act;

(f) Words and expressions used in these rules but not defined herein shall have the same meanings respectively assigned to them in the Act.