Amendment status not verified — confirm the current text below against the official source.
Subs. by s. 3, ibid., for “prize amount” (w.e.f. 1-1-2020). 15 Provided that where the foreman is himself a prized subscriber, he shall be entitled to appropriate to himself the 1[net chit amount] subject to his complying with the provisions of section 31: Provided further that the foreman may appropriate to himself the interest accruing on the amount deposited under the second proviso to sub-section (1). (5) The foreman shall not admit any person as a subscriber to a chit, if, by such admission, the total number of tickets mentioned in the chit agreement is increased. (6) The foreman shall distribute among the subscribers, in accordance with the chit agreement, the 2[share of discount] either in cash, grain or by way of adjustment towards the subscriptions payable for the next instalment, if any.