Bare ActsThe Goa, Daman & Diu Chit Funds Act, 1973

Section 24

Prized subscribers to give security

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

Prized subscribers to give security.— Before receiving the prize amount without deducting all future subscriptions, every prized subscriber shall furnish and the foreman shall take sufficient security, as provided in the explanation to clause (d) of sub-section (1) of section 13, for the due payment of future subscriptions and if the foreman is the prized subscriber, he shall give security for the due payment of future subscriptions to the satisfaction of the Registrar.

Section 24 – The Goa, Daman & Diu Chit Funds Act, 1973 | DailyLaw.ai