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Section 29: Substitution of subscribers.

The Chit Funds Act, 1982Central Act · Act 40 of 1982

(1) A foreman may substitute in the list of subscribers any person (thereafter in this Chapter referred to as the substituted subscriber) in place of the defaulting subscriber whose name has been removed under sub-section (1) of section 28.

(2) Every substitution referred to in sub-section (1) shall, with the date thereof, be entered in the relevant book maintained by the foreman and a true copy of every such entry shall be filed by the foreman with the Registrar within fourteen days from the date of substitution.

Where this provision sits

ActThe Chit Funds Act, 1982
Section29
Marginal noteSubstitution of subscribers.
JurisdictionCentral
StatusIn force as published by the source

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