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Start Free TrialChit Funds Act, 1982 Chapter IV
Title: Rights and Duties of Non-prized Subscribers
State: Central
Year: 1982
.....before the date of the next succeeding instalment, in a separate identifiable account in an approved bank mentioned in the chit agreement, an amount equal to the contributions made by the defaulting subscriber less such deductions as may be provided for in the chit agreement, and shall inform the defaulting subscriber as well as the Registrar of the fact of such deposit and shall not withdraw the amount so deposited except for payment to the defaulting subscriber. (2) The amount so deposited under sub-section (1) shall be paid to the defaulting subscriber as and when he claims the amount and the amount so deposited shall not be withdrawn by the foreman for any purpose other than for such payment. (3) The contributions of any defaulting subscriber who has not been substituted till the termination of the chit shall be paid to him within fifteen days from the date of termination of the chit subject to such deductions as may be provided for in the chit agreement.
View Complete Act List Judgments citing this sectionCHIT FUNDS ACT, 1982 Section 42
Title: Refund of non-prized subscribers's subscriptions
State: Central
Year: 1982
Except in the cases referred to in clauses (a) and (b) of section 40,- (a) every non-prized subscriber shall, unless otherwise provided for in this Act or in the chit agreement, be entitled to get back his subscriptions at the termination of the chit without any deduction for dividend, if any, earned by him: Provided that, any person to whom the rights of a non-prized subscriber are transferred in accordance with the provisions of section 35, shall, in addition to his own subscriptions, be entitled to get back the subscriptions paid by such non-prized subscriber, subject to the conditions specified in this section; (b) if a chit terminates on a date earlier than the date originally fixed in the chit agreement, the non-prized subscriber's claim shall be deemed to have arisen on the date on which he has notice thereof.
View Complete Act List Judgments citing this sectionChit Funds Act, 1982 Section 27
Title: Non-prized Subscribers to Pay Subscriptions and Obtain Receipts
State: Central
Year: 1982
Every non-prized subscriber shall pay his subscription due in respect of every instalment on the dates and times and at the places mentioned in the chit agreement and shall, on such payment, be entitled to obtain a receipt from the foreman.
View Complete Act List Judgments citing this sectionCHIT FUNDS ACT, 1982 Section 35
Title: Transfer of non-prized subscriber's right to be in writing
State: Central
Year: 1982
Every transfer by a non-prized subscriber of his rights in the chit shall be in writing duly attested by at least two witnesses and shall be filed with the foreman.
View Complete Act List Judgments citing this sectionChit Funds Act, 1982 Section 28
Title: Removal of Defaulting Subscribers
State: Central
Year: 1982
(1) A non-prized subscriber who defaults in payment his subscription in accordance with the terms of the chit agreement shall be liable to have his name removed from the list of subscribers and a written notice of such removal shall be given by the foreman to the defaulting subscriber within fourteen days of the date of such removal: Provided that if the defaulter pays the defaulted instalment with interest at such rate as may be prescribed within seven days of the date of receipt of such notice, his name shall be re-entered in the list of such subscribers. (2) Every such removal under sub-section (1), shall, with the date thereof, be entered in the relevant book maintained by the foreman. (3) A true copy of the entry referred to in sub-section (2) shall be filed by the foreman with the Registrar within fourteen days from the date of removal. (4) Any defaulting subscriber aggrieved by the removal of his name from the list of subscribers may, within seven days of the date of receipt of the notice of removal refer the matter to the Registrar for arbitration under section 64.
View Complete Act List Judgments citing this sectionChit Funds Act, 1982 Section 44
Title: Foreman to Allow Certain Subscribers to Inspect Chit Records
State: Central
Year: 1982
Every foreman shall, on payment of such fee not exceeding five rupees as may be specified in the chit agreement, allow the non-prized subscribers and unpaid prized subscribers reasonable facilities on all the dates of draw or on such other dates and within such hours as may be provided for in the chit agreement, for the inspection of security bonds and documents, receipts and other records taken from the prized subscribers, or furnished by the foreman as a subscriber and all chit records, including books of accounts, pass-books, balance-sheet and profit and loss accounts and such other records as may show the actual financial position of the chit.
View Complete Act List Judgments citing this sectionLevy Sugar Price Equalisation Fund Act, 1976 Section 3
Title: Levy Sugar Price Equalisation Fund
State: Central
Year: 1976
.....or in the custody of, any Government, bank, authority or other person; or (b) any amount in excess of the controlled price has been collected and kept by the producer under the cover of any guarantee given in pursuance of such order. (i) it shall not be necessary to credit such amounts to the Fund so long as the court which passed the interim order does not so direct." Omitted by the Levy Sugar Equalisation Fund (Amendment) Act, 1984, w.e.f. 23-08-1984. 4.Substituted for "interim order referred to in sub- section (4)")" by the Levy Sugar Equalisation Fund (Amendment) Act, 1984, w.e.f. 23-08-1984. 5. Substituted for "or in any court of appeal or revision, credit such amount, to the extent it represents any excess realisation, to the Fund. " by the Levy Sugar Equalisation Fund (Amendment) Act, 1984, w.e.f. 23-08-1984.
View Complete Act List Judgments citing this sectionLevy Sugar Price Equalisation Fund Act, 1976 Complete Act
Title: Levy Sugar Price Equalisation Fund Act, 1976
State: Central
Year: 1976
Preamble1 - LEVY SUGAR PRICE EQUALISATION FUND ACT, 1976 Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Levy Sugar Price Equalisation Fund Section4 - Determination of questions as to making of excess realisations Section5 - Discharge of persons of liability in respect of amounts credited to the Fund Section6 - Right of buyer to claim refund Section7 - Excess realisation not to be paid to any producer of sugar Section8 - Fund to vest in the Central Government Section9 - Power to require producers to maintain accounts, etc Section10 - Power of entry, search and seizure Section11 - Power of Central Government to recover excess realisations as arrears of land revenue Section12 - Dissolution of the Fund Section13 - Penalties Section14 - Removal of difficulties Section15 - Protection of action taken in good faith Section16 - Power to make rules Amending Act1 - LEVY SUGAR PRICE EQUALISATION FUND (AMENDMENT) ACT, 1984
List Judgments citing this sectionLevy Sugar Price Equalisation Fund Act, 1976 Preamble 1
Title: Levy Sugar Price Equalisation Fund Act, 1976
State: Central
Year: 1976
1 THE LEVY SUGAR PRICE EQUALISATION FUND Act, 1976 [Act, No. 31 oF 1976] [16th February, 1976] PREAMBLE An Act to provide for the establishment, in the interest of the general public, of a fund to ensure that the price f levy sugar may be uniform throughout India and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Twenty-seventh Year of the Republic of India as follows:-- ________________________ 1. The Act was enforced on 01-04-1976.
View Complete Act List Judgments citing this sectionNewspaper (Price and Page) Act, 1956 Preamble 1
Title: Newspaper (Price and Page) Act, 1956
State: Central
Year: 1956
THE NEWSPAPER (PRICE AND PAGE) ACT, 1956 [Act, No. 45 of 1956] [7th September, 1956] PREAMBLE An Act to provide for the regulation of the prices charged for newspapers in relation to their pages and of matters connected therewith for the purpose of preventing unfair competition among newspapers so that newspapers may have fuller opportunities of freedom of expression. BE it enacted by Parliament in the Seventh Year of the Republic of India as follows :--
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