(1) Any foreman aggrieved by an order of the Registrar —
(a) refusing to register the bye-laws of a chit under sub-section (1) of section 3;
(b) refusing to grant a certificate of commencement under sub-section (2) of section 7;
(c) refusing to accept the security under clause (a) of sub-section (1) of section 12 or under section 24: or
(d) refusing to release the property charged by way of security or to order, the release of the cash security or the Government securities under sub-section (6) or sub-section (7) of section 12;
may within thirty days of the communication to him of such decision appeal to the Director of Chits.
(2) The Director of Chits may, after giving the appellant an opportunity of being heard, pass such orders on the appeal under sub-section (1) as he thinks fit.
Manual of Goa Laws (Vol. I) – 694 – Chit Funds Act