section 7
Commencement of chit business
The Andhra Pradesh Chit Funds Act, 1971Finance197167 sections11 chapters
Chapter II CONSTITUTION AND REGISTRATION
Statutory text
Commencement of chit business :-
- (1) No person shall commence any auction or drawing of any chit unless he has obtained a certificate of com- mencement from the Registrar.
- (2) The Registrar shall, on being satisfied that the bye-laws of the chit have been registered and the chit agreement has been filed and security re- quired under Section 12 has been furnished by the foreman, grant a certificate of commencement.
Study data processing for this section.
PDF: pending for this language.