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Section 25: Prized subscriber to pay the subscriptions regularly

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 prized subscriber shall pay his subscriptions regularly at the time and place and on the date mentioned in the chit agreement and shall on such payment be entitled to get a receipt from the foreman.

(2) For every belated payment of subscription, a prized subscriber is liable to pay such penalty as specified in the chit agreement.

(3) Every prized subscriber, who fails to pay two consecutive subscriptions in accordance with the terms of the chit agreement shall be liable to make a consolidated payment of all future subscriptions at once.

Where this provision sits

ActThe Goa, Daman & Diu Chit Funds Act, 1973
Section25
Marginal notePrized subscriber to pay the subscriptions regularly
JurisdictionUnion territory of Dadra and Nagar Haveli and Daman and Diu
StatusIn force as published by the source

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