Bare Act Search Results

Chit Funds Act, 1982 Section 33

Title: Foreman to Demand Future Subscriptions by Written Notice

State: Central

Year: 1982

.....in the chit agreement and the cost of adjudication of the dispute, the Registrar or his nominee hearing the dispute shall, notwithstanding any contract to the contrary, make an order directing the subscriber to pay to the foreman the future subscriptions on or before the dates on which they fall due, and that, in case of any default of such payments by the subscriber, the foreman shall be at liberty to realise, in execution of that order, all future subscriptions and interest together with the costs, if any, less the amount, if any, already paid by the subscriber in respect thereof: Provided that if any such dispute is on a promissory note, no order shall be passed under this sub-section unless such promissory note expressly states that the amount due under the promissory note is towards the payment of subscriptions to the chit. (3) Any person who holds any interest in the property furnished as security or part thereof, shall be entitled to make the payment under sub-section (2). (4) All consolidated payment of future subscriptions realised by a foreman shall be deposited by him in an approved bank mentioned in the chit agreement before the date of the succeeding.....

Sale of Goods Act, 1930 Section 6

Title: Existing or Future Goods

State: Central

Year: 1930

(1) The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods. (2) There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen. (3) Where by a contract of sale the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.

Central Excise Tariff Act, 1985 Chapter 77

Title: [Reserved for Possible Future Use]

State: Central

Year: 1985

CHAPTER 77 [RESERVED FOR POSSIBLE FUTURE USE]

Customs Tariff Act 1975 Chapter 77

Title: Reserved for Possible Future Use

State: Central

Year: 1975

CHAPTER 77 (RESERVED FOR POSSIBLE FUTURE USE)

Indian Contract Act, 1872 Section 34

Title: When Event on Which Contract is Contingent to Be Deemed Impossible, if It is the Future Conduct of a Living Person

State: Central

Year: 1872

If the future event on which a contract is contingent is the way in which a person will act at an unspecified time, the event shall be considered to become impossible when such person does anything which renders it impossible that he should so act within any definite time, or otherwise than under further contingencies. Illustrations A agrees to pay B a sum of money if B marries C, C marries D. The marriage of B to C must now be considered impossible, although it is possible that D may die and that C may afterwards marry B.

Transfer of Property Act, 1882 Section 124

Title: Gift of Existing and Future Property

State: Central

Year: 1882

A gift comprising both existing and future property is void as to the latter.

Indian Succession Act, 1925 Section 342

Title: Investment of General Legacy, to Be Paid at Future Time, Disposal of Intermediate Interest

State: Central

Year: 1925

(1) Where a general legacy is given to be paid at a future time, the executor or administrator shall invest a sum sufficient to meet it in securities of the kind mentioned in section 341. (2) The intermediate interest shall form part of the residue of the testator's estate.

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 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.....

The Kerala Chitties Act, 1975 [1] Complete Act

State: Kerala

Year: 1975

THE KERALA CHITTIES ACT, 1975 [1] THE KERALA CHITTIES ACT, 1975 [1] (Act 23 of 1975) An Act to define, amend and consolidate the law relating to chitties in the State of Kerala; Preamble. "WHEREAS it is expedient to define, amend and consolidate the law relating to chitties in the State of Kerala; BE it enacted in the Twenty-sixth Year of the Republic of India as follows: " PART I Preliminary 1. Short title, extent and commencement . "(1) This Act may be called the Kerala Chitties Act, 1975. (2) It extends to the whole of the State of Kerala. (3) It shall come into force on such date as the Government may, by notification in the Gazette, appoint. 2. Definitions. "In this Act, unless the context otherwise requires," (1) "approved bank" means a bank approved by the Government, from time to time, for the purposes of this Act; (2) "chitty" means a transaction, whether called chitty or kuri, by which one or more persons, hereinafter called the "foreman" or "foremen", enter into an agreement with a number of persons that every one of the contracting party shall subscribe a certain amount of money or quantity of grain or other.....