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Chit Funds Act, 1982 Complete Act

Title: Chit Funds Act, 1982

State: Central

Year: 1982

Matched in: Title Chit Funds Act, 1982

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Chit Funds Act, 1982 Section 22

Title: Duties of foreman.—

State: Central

Year: 1982

subscriber furnishing sufficient security for the due payment of future subscriptions, be bound to pay him the 5[net chit amount]: Provided that the prized subscriber shall be entitled to the payment of the 5[net chit amount] without any … the 5[net chit amount]: Provided that the prized subscriber shall be entitled to the payment of the 5[net chit amount] without any security whatsoever if he agrees to the deduction therefrom of the amount of all future subscriptions

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Chit Funds Act, 1982 Section 10

Title: Copies of chit agreement to be given to subscribers.—

State: Central

Year: 1982

Matched in: Title Copies of chit agreement to be given to subscribers.—

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Chit Funds Act, 1982 Section 20

Title: Security to be given by foreman.—

State: Central

Year: 1982

deposit in the name of the Registrar, an amount equal to,- (i) fifty per cent. of the 2[gross chit amount] in cash in an approved bank; and (ii) fifty per cent. of the 2[gross chit amount] in the … the 2[gross chit amount] in cash in an approved bank; and (ii) fifty per cent. of the 2[gross chit amount] in the form of bank guarantee from an approved bank; or] (b) transfer Government securities of the face

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Chit Funds Act, 1982 Section 7

Title: Filing of chit agreement.—

State: Central

Year: 1982

Matched in: Title Filing of chit agreement.—

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Chit Funds Act, 1982 Section 39

Title: Provision for continuation of chits in certain cases.—

State: Central

Year: 1982

1) Where a foreman dies or becomes of unsound mind or is otherwise incapacitated, the chit may continue in accordance with the provisions of the chit agreement. (2) Where a foreman is adjudicated an

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Chit Funds Act, 1982 Section 40

Title: Termination of chits.—A chit shall be deemed to have terminated,—

State: Central

Year: 1982

Matched in: Title Termination of chits.—A chit shall be deemed to have terminated,—

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Chit Funds Act, 1982 Section 61

Title: Appointment of Registrar and other officers.—

State: Central

Year: 1982

1) The State Government may, by notification in the Official Gazette, appoint a Registrar of Chits and as many Additional, Joint, Deputy and Assistant Registrars as may be necessary for the purpose of discharging

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Chit Funds Act, 1982 Section 60

Title: Limitation.—

State: Central

Year: 1982

1) Where an order refusing to wind up a chit has been made under this Act, the chit shall be deemed to have been under suspension from the … the rights of a subscriber to proceed against the foreman personally for the balance, if any, of the amount due to him after the declaration of the final 1 [share of discount] in the proceedings for the

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Chit Funds Act, 1982 Section 90

Title: Repeal and saving.—

State: Central

Year: 1982

1) The Andhra Pradesh Chit Funds Act, 1971 (Andhra Pradesh Act 9 of 1971), the Kerala Chitties Act, 1975 (Kerala Act 23 of

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