(1) (a) A non-prized subscriber who defaults in paying His subscription in accordance with the terms of the chit agreement shall be liable to have his name removed from the list of subscribers .
(b) Every such removal shall, with the date. thereof, be entered in a book of defaulting subscribers to be maintained by the foreman:
(2) The foreman shall within fourteen days from the removal of the name of a defaulting subscriber under sub-section (1)-
(a) give a notice of this fact to such defaulting subscriber; and
(b) file with Registrar a true copy of the en try in the register referred to in clause (b) of sub-section (1).
(3) Any defaulting subscriber aggrieved by the removal of his name from the list of subscribers may, within seven days of the communication to him of the notice of removal appeal to the Registrar.
(4) The Registrar may after giving the parties an opportunity of being heard, pass such orders on the appeal as he thinks fit and the decision of the Registrar shall be final.
Substitution of subscribers.