Prohibition of invitation for subscription to chit of which bye laws have not been registered

Prohibition of invitation for subscription to chit of which bye laws have not been registered :- No person shall issue or publish any notice, circular, prospectus or other document containing the terms and conditions of any chit or inviting the public to subscribe for tickets in any chit unless such notice, circular, prospectus or other document relates to a chit the bye laws of which have been registered.