section 7
Commencement of chit business.
The Goa, Daman and Diu Chit Funds Act, 1973Finance197370 sections10 chapters
Chapter II Chapter II
Statutory text
- (1) No person shall commence any auction or drawing of hi unless he has obtained a certificate of commencement from the Registrar, 41 ¢ it
- (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 the security required under section 12 has been furnished by the foreman.
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