Section 17: Liability of foreman to the Subscribers

The Goa, Daman & Diu Chit Funds Act, 1973Union territory Act of Dadra and Nagar Haveli and Daman and Diu · Act 16 of 1973

(1) Every foreman shall be liable to account to the subscribers for the amounts due to them.

Manual of Goa Laws (Vol. I) – 684 – Chit Funds Act

(2) Where there are more than one foreman, each one of them jointly and severally or if the foreman is a firm, each one of the partners thereof jointly and severally and if the foreman is a Statutory Corporation or a Company registered under the Companies Act, 1956 (Central Act 1 of 1956), the Corporation or the Company as such shall be liable to the subscribers in respect of the obligations arising out of the chit.

Where this provision sits

Act	The Goa, Daman & Diu Chit Funds Act, 1973
Section	17
Marginal note	Liability of foreman to the Subscribers
Jurisdiction	Union territory of Dadra and Nagar Haveli and Daman and Diu
Status	In force as published by the source

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