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Chit Funds Act, 1982 Complete Act

State: Central

Year: 1982

.....the foreman; (b) his methods of operation; (c) the interest of prospective subscribers; (d) the requirement 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 exceed 2["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. Clause 6.- While the various particulars which are required to be specified in every chit agreement and the other formalities to be complied with have been specified in sub-clause (1) of this clause, it has been provided in sub-clause (2) that the duration of a chit shall not extend beyond a period of five years from the date of its commencement. However, the State Government concerned has been empowered to permit the duration of a chit up to a period of ten years on the existence of certain conditions specified in that sub-clause. Sub-clause (3) provides that the amount of discount in any chit shall not exceed thirty per cent. of the chit amount.....

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Code of Criminal Procedure, 1898 Complete Act

State: Central

Year: 1898

.....as such Magistrate, exercised the powers of an Assistant Sessions Judge, he may be invested with the powers under this section notwithstanding the fact that he has not exercised the powers of Magistrate of the first class for not less than ten years." Act 19 of 1969, Section 3 and Schedule, Item 14 (in Delhi on 2-10-1969). WEST BENGAL In its application to the State of West Bengal, for Section 30, substitute the following, namely: "30. Offences punishment with imprisonment not exceeding seven years.-Notwithstanding any thing contained in Section 28 or Section 29, the State Government may, in consultation with the High Court, invest any Judicial Magistrate of the first class with power to try as a Magistrate all offences not punishable with death or with imprisonment for life or with imprisonment for a term exceeding seven years : Provided that no Judicial Magistrate of the first class has, prior to his appointment as such powers unless he has, for not less than ten years, exercised powers not inferior to those of a Judicial Magistrate of the first class : Provided further that if any Judicial Magistrate of the first class has, prior to his appointment as such Magistrate,.....

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