Licensing of prize competitions where offered does not exceed one thousand rupees a month

Licensing of prize competitions where offered does not exceed one thousand rupees a month.-- Subject to the provisions of section 4, no person shall promote or conduct any prize competition or competitions in which the total value of the prize or prizes (whether in cash or otherwise) to be offered in any month does not exceed five hundred rupees unless he has obtained a licence granted in accordance with the provisions of this Act and the rules made thereunder.