Bare ActsThe Prize Chits and Money Circulation Schemes (Banning) Act, 1978

Section 3

Banning of prize chits and money circulation schemes or enrolment as members or participation therein.

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

No person shall promote or conduct any prize chit or money circulation scheme, or enroll as a member to any such chit or scheme, or participate in it otherwise, or receive or remit any money in pursuance of such chit or scheme.

Amended up to 2019-04-01View on India Code →
Section 3 – The Prize Chits and Money Circulation Schemes (Banning) Act, 1978 | DailyLaw.ai