Foreman to give notice in writing before demanding payment of all future subscriptions

Foreman to give notice in writing before demanding payment of all future subscriptions.—

1. (1) A foreman shall not be entitled to claim consolidated payment of all the feature subscriptions from a defaulting prized subscriber unless he shall have demanded the same in writing.
2. (2) If, in a suit instituted by a foreman for consolidated payment of future subscriptions from a defaulting prized subscriber, the defendant pays into court on or before the date to which the suit is posted for evidence the arrears of subscriptions till that date together with interest thereon at the rate provided for in the variola or at twelve per cent per annum, whichever is lower, and the costs of the suit, for payment to the plaintiff, then, notwithstanding any law or contract to the contrary, the court shall pass a decree directing the defendant to deposit in court, for payment to the plaintiff, the future subscriptions on or before the dates on which they fall due and making him liable for the consolidated payment of all the future subscriptions with interest thereon in case of default to deposit in court any one instalment on or before the due date, and allowing the plaintiff in case of such default to realize in execution all the future subscriptions and interest thereon less the amount, if any already deposited by the defendant.
3. (3) Any person who holds an interest in the property furnished as security or any part thereof shall be entitled to make payment under sub-section (2).
4. (4) All consolidated payments of future subscriptions realized by a foreman shall be deposited in approved banks in trust for the benefit of the non-prized and unpaid prized subscribers before the date of the next succeeding instalment.
5. (5) The amount deposited under sub-section
6. (4) may be withdrawn only for payment of future subscriptions.
7. (6) When the consolidated payment has been realised in the shape of property, such property shall remain as security for the due payment of future subscriptions.
8. (7) Any foreman who contravenes the provisions of sub-section
9. (4) or sub-section
10. (5) or sub-section
11. (6) shall be punishable with fine which may extend to one hundred rupees.