Preamble1 - CHIT FUNDS ACT, 1982
Chapter I Section1 - Short title, extent and commencement
Section2 - Definitions
Section3 - Act to override other laws, memorandum, articles, etc.
Chapter II Section4 - Prohibition of chits not sanctioned or registered under the Act
Section5 - Prohibition of invitation for subscription except under certain conditions
Section6 - Form of chit agreement
Section7 - Filing of chit agreement
Section8 - Minimum capital requirements for the commencement, etc., of a chit, and creation of a reserve fund, by a company
Section9 - Commencement of chit
Section10 - Copies of chit agreement to be given to subscribers
Section11 - Use of the words "chit", "chit fund", " chitty or "kuri"
Section12 - Prohibition of transacting business other than chit business by a company
Section13 - Aggregate amount of chits
Section14 - Utilisation of funds
Section15 - Alteration of chit agreement
Section16 - Date, time and place of conducting chits
Section17 - Minutes of proceedings
Section18 - Copies of minutes to be filed with Registrar
Section19 - Restriction on opening of new place of business
Chapter III Section20 - Security to be given by foreman
Section21 - Rights of foreman
Section22 - Duties of foreman
Section23 - Books, records, etc., to be kept by foreman
Section24 - Balance-sheet
Section25 - Liability of foreman to subscribers
Section26 - Withdrawal of foreman
Chapter IV Section27 - Non-prized subscribers to pay subscriptions and obtain receipts
Section28 - Removal of defaulting subscribers
Section29 - Substitution of subscribers
Section30 - Amounts due to defaulting subscribers
Chapter V Section31 - Prized subscriber to furnish security
Section32 - Prized subscriber to pay subscriptions regularly
Section33 - Foreman to demand future subscriptions by written notice
Chapter VI Section34 - Restrictions on transfer of rights of foreman
Section35 - Transfer of non-prized subscriber's right to be in writing
Section36 - Recognition of transfer by foreman
Section37 - Entry of transfer
Chapter VII Section38 - Meetings of general body of subscribers
Chapter VIII Section39 - Provision for continuation of chits in certain cases
Section40 - Termination of chits
Section41 - Copy of assent or consent to be filed with Registrar
Section42 - Refund of non-prized subscribers's subscriptions
Section43 - Subscribers' dues to be first charge on chit assets
Chapter IX Section44 - Foreman to allow certain subscribers to inspect chit records
Section45 - Preservation of chit records by foreman
Section46 - Inspection of chit books and records by Registrar
Section47 - Power of Reserve Bank to inspect chit books and records
Chapter X Section48 - Circumstances under which chits may be wound up
Section49 - Application for winding up
Section50 - Bar to winding up proceedings
Section51 - Commencement and effect of winding up order
Section52 - Injunction order
Section53 - Powers of Registrar
Section54 - Vesting of chit assets in Registrar or other person
Section55 - Suits, etc., to be stayed on winding up order
Section56 - Notification of winding up order
Section57 - Cessation of winding up proceedings on insolvency of foreman, etc., or the winding up of the company and transfer of such proceedings
Section58 - Award of compensation to foreman
Section59 - Right to appeal
Section60 - Limitation
Chapter XI Section61 - Appointment of Registrar and other officers
Section62 - Inspection of documents in Registrar's Office
Section63 - Levy of fees
Chapter XII Section64 - Disputes relating to chit business
Section65 - Period of limitation
Section66 - Settlement of disputes
Section67 - Procedure for settlement of disputes and powers of Registrar or nominee
Section68 - Attachment before judgment and other interlocutory orders
Section69 - Decision of Registrar or nominee
Section70 - Appeal against decision of Registrar or nominee
Section71 - Money how recovered
Section72 - Private transfer of property made after issue of certificate void against foreman
Chapter XIII Section73 - Advisory role of Reserve Bank
Section74 - Appeals
Section75 - Powers of Registrar to give extension of time for filing documents
Section76 - Penalties
Section77 - Penalty for second and subsequent convictions
Section78 - Application of fine
Section79 - Offences by companies
Section80 - Cognizance of offences
Section81 - Power to compound offences
Section82 - Power to enter and search any place and to seize any documents
Section83 - Officers to be public servants
Section84 - Power to delegate
Section85 - Act not to apply to certain chits
Section86 - Banks not to conduct chit business
Section87 - Power to exempt
Section88 - Protection of action taken under the Act
Section89 - Power to make rules
Section90 - Repeal and saving
Schedule1 - THE SCHEDULE
Appendix1 - APPENDIX
Amending Act1 - CHIT FUNDS (AMENDMENT) ACT, 2001