Bare Act Search Results

Chit Funds Act, 1982 Complete Act

State: Central

Year: 1982

..... (a) that the security offered by the foreman under section 20 is insufficient; (b) that the foreman had been convicted of any offence under this Act or under any other Act regulating chit business and sentenced to imprisonment for any such offence; (c) that the foreman had defaulted in the payment of fees or the filing of any statement or record required to be paid or filed under this Act or had violated any of the provisions of this Act or the rules made thereunder; (d) that the foreman had been convicted of any offence involving moral turpitude and sentenced to imprisonment for any such offence unless a period of five years has elapsed since his release: Provided further that before refusing to register a chit under the first proviso, the foreman shall be given a reasonable opportunity of being heard. (3) Every endorsement made under sub-section (2) shall be conclusive evidence that the chit is duly registered under this Act and the registration of a chit shall lapse if the declaration by the foreman under sub-section (1) of section 9-is not filed within three months from the date of such endorsement or within such further period or periods not exceeding three months in.....

Maharashtra Chit Funds Act, 1974 Complete Act

State: Maharashtra

Year: 1974

.....may, by notification in the Official Gazette, appoint; and different dates may be appointed for different areas and for different provisions of this Act. SECTION 02: DEFINITIONS In this Act, unless the context otherwise requires, (1) "approved bank" means a Bank approved by the State Government for the purposes of this Act; (2) "bye laws" means byelaws relating to a chit and registered under this Act, and for the time being in force, and includes registered amendments of such byelaws ; (3) "chit" means a transaction, whether called chit fund, chitty, unit, bhishi or by any other name, by or under which the Foreman conducting the chit enters into an agreement with a specified number of subscribers that everyone of them shall subscribe a certain sum of money in periodical installments for a definite period, and that each subscriber in his turn, either determined by lot or by auction or by tender or in such other manner as may be provided for in the agreement, be entitled to a prize amount, whether payable in cash, kind or any article of value or in such other manner as may be provided for in such agreement ; (4) "chit agreement" means a document containing the articles of agreement.....

Chit Funds Act, 1982 Chapter II

Title: Registration of Chits, Commencement and Conduct of Chit Business

State: Central

Year: 1982

.....payment of fees or the filing of any statement or record required to be paid or filed under this Act or had violated any of the provisions of this Act or the rules made thereunder; or (c) had been convicted of any offence involving moral turpitude and sentenced to imprisonment for any such offence unless a period of five years has elapsed since his release: Provided that before refusing any such sanction, the foreman shall be given a reasonable opportunity of being heard. (4) The order of the State Government, and, subject to the provisions of sub­ section (5), the order of the officer empowered under sub-section (1), issuing or refusing previous sanction under this section shall be final. (5) Any person aggrieved by the refusal to issue previous sanction by any officer empowered under sub-section (1) may appeal to the State Government within thirty days of the date of communication to him of such refusal and the decision of that Government on such appeal shall be final. Section 5 - Prohibition of invitation for subscription except under certain conditions No person shall issue or cause to be issued any notice, circular, prospectus, proposal or other document.....

Chit Funds Act, 1982 Complete Act

Title: Chit Funds Act, 1982

State: Central

Year: 1982

.....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 .....

Prize Chits and Money Circulation Schemes Banning Act 1978 Complete Act

Title: Prize Chits and Money Circulation Schemes Banning Act 1978

State: Central

Year: 1978

Preamble1 - PRIZE CHITS AND MONEY CIRCULATION SCHEMES BANNING ACT 1978 Section1 - Short title and extent Section2 - Definitions Section3 - Banning of prize chits and money circulation schemes or enrolment as members or participation therein Section4 - Penalty for contravening the provisions of section 3 Section5 - Penalty for other offences in connection with prize chits or money circulation schemes Section6 - Offences by companies Section7 - Power to enter, search and seize Section8 - Forfeiture of newspaper and publication containing prize chit or money circulation scheme Section9 - Power to try offences Section10 - Offences under this Act to be cognizable Section11 - Act not to apply to certain prize chits or money circulation schemes Section12 - Transitional provisions Section13 - Power to make rules Section14 - Repeals and saving

Chit Funds (Amendment) Act, 2001 Complete Act

Title: Chit Funds (Amendment) Act, 2001

State: Central

Year: 2001

Preamble1 - THE CHIT FUNDS (AMENDMENT) ACT, 2001 Section1 - Short title and Commencement Section2 - Amendment of section 6 Section3 - Amendment of section 13 Section4 - Amendment of section 20

Indian Contract Act, 1872 Complete Act

Title: Indian Contract Act, 1872

State: Central

Year: 1872

.....- Ratification may be expressed or implied Section198 - Knowledge requisite for valid ratification Section199 - Effect of ratifying unauthorized act forming part of a transaction Section200 - Ratification of unauthorized act cannot injure third person Section201 - Termination of agency Section202 - Termination of agency, where agent has an interest in subject-matter Section203 - When principal may revoke agents authority Section204 - Revocation where authority has been partly exercised Section205 - Compensation for revocation by principal, or renunciation by agent Section206 - Notice of revocation or renunciation Section207 - Revocation and renunciation may be expressed or implied Section208 - When termination of agents authority takes effect as to agent and as to third persons Section209 - Agents duty on termination of agency by principals death or insanity Section210 - Termination of sub-agents authority Section211 - Agents duty in conducting principals business Section212 - Skill and diligence required from agent Section213 - Agents accounts Section214 - Agents duty to communicate with principal Section215 - Right of principal when agent deals, on his own.....

Contract Labour (Regulation and Abolition) Act, 1970 Complete Act

Title: Contract Labour (Regulation and Abolition) Act, 1970

State: Central

Year: 1970

.....- First-aid facilities Section20 - Liability of principal employer in certain cases Section21 - Responsibility for payment of wages Chapter VI Section22 - Obstructions Section23 - Contravention of provisions regarding employment of contract labour Section24 - Other offences Section25 - Offences by companies Section26 - Cognizance of offences Section27 - Limitation of prosecutions Chapter VII Section28 - Inspecting staff Section29 - Registers and other records to be maintained Section30 - Effect of laws and agreements inconsistent with this Act Section31 - Power to exempt in special cases Section32 - Protection of action taken under this Act Section33 - Power to give directions Section34 - Power to remove difficulties Section35 - Power to make rules

Supply of Forest Produce by Government (Revision of Agreements) Act, 1987 Complete Act

Title: Supply of Forest Produce by Government (Revision of Agreements) Act, 1987

State: Karnataka

Year: 1987

Preamble 1 - KARNATAKA SUPPLY OF FOREST PRODUCE BY GOVERNMENT (REVISION OF AGREEMENTS) ACT, 1987 Section 1 - Short title and commencement Section 2 - Definitions Section 3 - Power of State Government to revise agreements for sale or supply of forest produce Section 4 - The price of forest produce sold or supplied to purchasers not to exceed market value Section 5 - Power of Government to terminate agreements Section 6 - Purchaser may terminate agreement after giving one month's notice Section 7 - Effect of other laws Section 8 - Power to make rules

Chit Funds Act, 1982 Section 6

Title: Form of Chit Agreement

State: Central

Year: 1982

.....period of five years from the date of its commencement: Provided that the State Government may permit the duration of a chit up to a period af ten years if it is satisfied that it is necessary so to do, having regard to,- (a) the financial condition of the foreman; (b) his methods of operation; (c) the interests of prospective subscribers; (d) the requirements as to security; and (e) such other factors as the circumstances of the case may require. (3) The amount of discount referred to in clause (f) of sub-section (1) shall not exceed1[forty per cent.] of the chit amount. (4) Where the prized subscriber at any instalment of the chit is required to be determined by auction and more than one person offer the maximum discount, the prized subscriber shall be determined by lot. ______________________ 1. Substituted for the words "thirty per cent" by The Chit Funds (Amdt.) Act, 2001. w.e.e. 01.10.2001