Amendment status not verified — confirm the current text below against the official source.
(1) The foreman shall be entitled-- (a) to obtain his prize at the instalment specified in the variola without deduction for discount: Provided that a foreman shall not be eligible to get more than one prize in a chitty without deduction for discount; (b) to such commission or remuneration not exceeding five per cent of the chitty amount as may be fixed in the variola for the conduct of the chitty; (c) to receive and realise all subscriptions from the subscribers and to distribute the veethapalisa among them; (d) to demand reasonable security from any prized subscriber for the amount of future subscriptions payable by him. Explanation.-- A security is reasonable within the meaning of this clause if its value exceeds twice the amount due from the prized subscriber; (e) to substitute subscribers in the place of defaulters subject to the provisions hereinafter contained; and (f) to do all other acts that may be necessary for the due and proper conduct of the chitty. (2) Where there is any dispute between the foreman and a prized subscriber regarding the value of the property offered as security for the amount of future subscriptions payable by him, a valuation certificate in respect of the property issued by the Tahsildar of the taluk in which the property is situate shall be accepted by the foreman. (3) Any foreman who does not accept a valuation certificate as required by sub-section (2) shall be punishable with fine which may extend to five hundred rupees.