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Section 85: Act not to apply to certain chits.

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

Nothing in this Act shall apply in respect of

(a) any chit started before the commencement of this Act; or

(b) any chit the amount of which, or where two or more chits were started or conducted simultaneously by the same foreman, the aggregate amount of which does not exceed [such amount as may be specified, by notification in the Official Gazette, by the State Goverment].

Where this provision sits

ActThe Chit Funds Act, 1982
Section85
Marginal noteAct not to apply to certain chits.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 41 of 2019. . Subs. by Act 41 of 2019, s. 9, for “one hundred rupees” (w.e.f. 1-1-2020).

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