section 10
Minutes of proceedings.
The Goa, Daman and Diu Chit Funds Act, 1973Finance197370 sections10 chapters
Chapter II Chapter II
Statutory text
- (1) The minutes of the proceedings of every drawing shall be drawn up and entered in a book to be kept for that purpose and shall be signed by the foreman and all the subscribers present and shall also be signed by the prized subscriber or his authorised agent.
- (2) Such minutes shall state clearly —
- (i) the date and hour when the proceedings began and ended and the place where the drawing was held:
- (ii) the number of the particular instalment of the chit of which proceedings, are recorded:
- (iii) the names of the subscribers present:
- (iv) the person or persons who become entitled to the prize amount in the particular instalment:
- (v) the amount of discount:
- (vi) full particulars regarding the disposal of the prize amount in respect of the preceding instalment and disposal of unpaid prize amount, if any. in respect of any previous instalment: and
- (vii) any other particulars which may be prescribed.
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