LawgistThe Prize Chits and Money Circulation Schemes (Banning) Act
1Short title and extent
(1) This Act may be called the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
(2) It extends to the whole of India 1***
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1. The words "except the State of Jammu and Kashmir" omitted by Act 34 of 2019, s. 95 and the Fifth Schedule (w.e.f. 31-10-2019).
All sections
- 1 Short title and extent
- 2 Definitions
- 3 Banning of prize chits and money circulation schemes or enrolment as members or participation therein
- 4 Penalty for contravening the provisions of section 3
- 5 Penalty for other offences in connection with prize chits or money circulation schemes
- 6 Offences by companies
- 7 Power to enter, search and seize
- 8 Forfeiture of newspaper and publication containing prize chit or money circulation scheme
- 9 Power to try offences
- 10 Offences under this Act to be cognizable
- 11 Act not to apply to certain prize chits or money circulation schemes
- 12 Transitional provisions
- 13 Power to make rules
- 14 Repeals and saving
