Prize Chit - Law Dictionary Search Results

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Prize chit

..... expiry of the period stipulated therein but does not include a conventional chit prize chits and money circulation schemes banning act 1978 43 of 1978 s 2 e ..... prize chit includes any transaction or arrangement by whatever name called under which a ..... ii refunding to the subscribers or such of them as have not won any prize or gift the whole or part of the subscriptions contributions or other monies .....

Money circulation scheme

..... is derived from the entrance money of the members of such scheme or periodical subscriptions prize chits and money circulation scheme banning act 1978 43 of 1978 s 2 c to be ..... the members state of west bengal v swapan kumar guha air 1972 sc 949 976 prize chits and money circulation schemes banning act 1978 s 2 c

Money

..... 52 p 3 includes a cheque postal order demand draft telegraphic transfer or money order prize chits and money circulation scheme banning act 1978 43 of 1978 s 2 b

Money Bill

..... 52 p 3 includes a cheque postal order demand draft telegraphic transfer or money order prize chits and money circulation scheme banning act 1978 43 of 1978 s 2 b

Chit

..... such other manner as may be specified in the chit agreement be entitled to the prize amount explanation a transaction is not a chit within the meaning of this clause if in such ..... but not all of the subscribers get the prize amount without any liability to pay future subscriptions or ii all the subscribers get the chit amount by turns with a liability to .....

Draw

draw draw means the manner specified in the chit agreement for the purpose of ascertaining the prized subscriber at any installment of the chit chit funds act 40 of 1982 s 2 i

Prize amount

..... value of the prize amount shall be the value at the time when it becomes payable chit funds act 1982 40 of 1982 s 2 m ..... of a ticket means the difference between the chit amount and the discount proportionate to the fraction of the ticket and when the prize amount is payable otherwise than in cash the .....

Discount

..... means the sum of money or the quantity of grain which a prized subscriber is under the terms of the chit agreement required to forego and which is set apart under the ..... said agreement to meet the expenses of running the chit or for distribution among the subscribers or for both chit funds act 40 of 1982 s 2 g means the .....

Non-prized subscriber

non prized subscriber does not include defaulting subscriber chit funds act 1982 40 of 1982 s 2 k

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