THE CHIT FUNDS ACT, 1982
An Act to provide for the regulation of chit funds and for matters connected therewith. Be it enacted by Parliament in the Thirty-third Year of the Republic of India
CHAPTER I - PRELIMINARY
CHAPTER II - Registration of chits
Registration Of Chits, Commencement And Conduct Of Chit Business ( 4 to 6 )
Registration Of Chits, Commencement And Conduct Of Chit Business 4.Prohibition of chits not sanc...
Registration Of Chits, Commencement And Conduct Of Chit Business ( 6 to 7 )
(m) the conditions under which a subscriber shall be treated as a defaulting subscriber...
Registration Of Chits, Commencement And Conduct Of Chit Business ( 8 to 11 )
8. Minimum capital requirements for the commencement, etc., of a chit, and chit, and creation of ...
Registration Of Chits, Commencement And Conduct Of Chit Business ( 12 to 15 )
12.Prohibition of transacting business other than chit business by a company.- (1) Except with t...
Registration Of Chits, Commencement And Conduct Of Chit Business ( 16 to 19 )
16. Date, time and place of conducting chits.- (1) Every draw in a chit shall be held on the dat...
Chapter III - Rights and Duties of Foreman
Rights and Duties of Foreman ( 20 to 21)
20.Security to be given by foreman.- (1) For the proper conduct of the chit, every foremanshall, ...
Rights and Duties of Foreman ( 22 to 23)
22.Duties of foreman.- (1) The foreman shall, on the prized subscriber furnish sufficient securi...
Rights and Duties of Foreman ( 24 to 26)
24.Balance sheet.- Without prejudice to the provisions of the Companies Act, 1956 (1 of 1956.),ev...