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Meetings of general body of subscribers ( 38 )
38. Meetings of the general body of subscribers.- (1) The foreman, may, on his own motion, conve...
Appointment of Officers and Levy of Fees ( 61 to 63 )
61. Appointment of Registrar and other officers.- (1) The State Government may by notification i...
Winding up of Chits ( 48 to 60 )
48. Circumstances under which chits may be wound up.- A chit may be wound up by the registrar wit...
Inspection of Documents ( 44 to 47)
44. Foreman to allow certain subscribers to inspect chit records.- Every foreman shall, on paymen...
Termination of Chits ( 39 to 43 )
39. Provision for continuation of chits in certain cases.-(1) Where a foreman dies or becomes of ...
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...
Transfers ( 34 to 37 )
34. Restrictions on transfer of rights of foreman.- (1) No transfer of the rights of a foreman t...
Rights And Duties Of Prized Subscribers ( 31 to 33)
31. Prized subscriber to furnish security.- Every prized subscriber shall, if he has not offered ...
Rights And Duties of Non-Prized Subscribers ( 27 to 30)
27. Non-prized subscribers to pay subscriptions and obtain receipts.- Every non-prized subscriber...
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 ( 8 to 11 )
8. Minimum capital requirements for the commencement, etc., of a chit, and chit, and creation of ...
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...
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 ( 20 to 21)
20.Security to be given by foreman.- (1) For the proper conduct of the chit, every foremanshall, ...
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 ( 4 to 6 )
Registration Of Chits, Commencement And Conduct Of Chit Business 4.Prohibition of chits not sanc...
Preliminary (2 to 3)
(j) "foreman" means the person who under the chit agreement is responsible for the conduct of the...
Preliminary (1 to 2)
THE CHIT FUNDS ACT, 1982 No.40 OF 1982 [19th August, 1982.] An Act to provide for the regulatio...
Disputes and Arbitration ( 45 to 49 )
Chapter VI Disputes and Arbitration 45. Reference of dispute.—A reference of a disput...
Fees ( 42 to 44 )
Chapter V Fees 42. Table of fees.—The fees payable to the Registration for matters specified in...