LawgistThe Chit Funds Act
87Power to exempt
The State Government may, in consultation with the Reserve Bank, by notification in the Official Gazette, and subject to such conditions as may be specified in the notification, exempt any person or class of persons or any chit or class of chits from all or any of the provisions of this Act.
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MISCELLANEOUS
- 73 Advisory role of Reserve Bank
- 74 Appeals
- 75 Powers of Registrar to give extension of time for filing documents
- 76 Penalties
- 77 Penalty for second and subsequent convictions
- 78 Application of fine
- 79 Offences by companies
- 80 Cognizance of offences
- 81 Power to compound offences
- 82 Power to enter and search any place and to seize any documents
- 83 Officers to be public servants
- 84 Power to delegate
- 85 Act not to apply to certain chits
- 86 Banks not to conduct chit business
- 87 Power to exempt
- 88 Protection of action taken under the Act
- 89 Power to make rules
- 90 Repeal and saving
