Bare ActsThe Chit Funds Act, 1982

Section 5

Prohibition of invitation for subscriptions except under certain conditions.

Amendment status not verified — confirm the current text below against the official source.

No person shall issue or cause to be issued any notice, circular, prospectus, proposal or other document inviting the public to subscribe for tickets in any chit unless such notice, circular, prospectus, proposal or document contains a statement that the previous sanction required under section 4 has been obtained and the particulars of such sanction.

Section 5 – The Chit Funds Act, 1982 | DailyLaw.ai